Question

Consideration in a contract ___________________

Answer 1

Consideration is the most important factor for making a legal contract.

Explanation:

• Consideration can be defined as the monetary value that is offered in return for something in a contract.
• Consideration is one of the most important factors in making a legally enforceable contract.
• Consideration is not required to be just but it should be numerically measurable.
• Consideration should also be legally accepted in order for the contract to be enforceable.
• For example, you cannot offer someone banned goods in return for the performance of the contract as the consideration will not be valid