asked 139k views
4 votes
The legal mechanism for evaluating the existence of an incentive for a person's promise to establish a binding contract and acts as a receipt of a legal benefit or the suffering of a legal detriment is ________.

asked
User Arjuncc
by
8.1k points

1 Answer

4 votes
The answer is "the suffering of a legal detriment is consideration".

Considerations essentialy have incentive or inducement for a person’s promise or it is not necessary and courts will not impose promises unless they are reinforced by considerations

The consideration in a contract must be simultaneous and also a part of both parties so that both parties fully understand the terms related to the contract.

answered
User Shanmukha
by
7.3k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.