Question

Consideration can simply be explained as____________.
profit
income
benefit
acceptance

Answer 1

Answer:

acceptance

Explanation:

hope it helps you

Answer 2

Consideration can simply be explained as benefit.

Consideration definition:

"Consideration is said to exist when the promisor receives some benefit for his promise and the promisee gives up something in return"

Consideration:

• Consideration is a legal bargaining where you give up something for a price such as warmth, amusement or pride. It is also called as legal detriment.
• In this case the detriment is actually a benefit given to the promisee. Usually one sided detriment is beneficial to the promisee not to the promisor. But the legal detriment is beneficial to the promisor.
• Consideration is not legally sufficient morally or economically for the bargain to be fair. It is a legal concept, and it is focused on giving up on a legal right or benefit.

Consideration has two elements- first is the promisee acquiring a legal detriment and the second is whether the detriment is bargained.