Understanding Consideration in Business Law

• The benefit received by the promisee
• The benefit received by the promisor
• The price paid by the promisee for the promisor's obligation (correct)
• The price paid by the promisor for the promisee's obligation

• As something given by the promisor to the promisee
• As something with no specific value
• As something in return with a double aspect of benefit to the promisor and detriment to the promisee (correct)
• As something given by the promisee to the promisor without any benefit

• 'Something given' without any expectation
• 'Something monetary' exchanged between parties
• 'Something valuable' only for one party
• 'Something in return' for a promise (correct)

<p>'No consideration, no contract' (D)</p> Signup and view all the answers

<p>Without it, no single promise will be enforceable (C)</p> Signup and view all the answers