ContractsContract_essentialsEASY
In a purchase agreement, the buyer promises to pay the price and the seller promises to transfer title. What contract element is reflected by that exchange?
Correct Answer
C) Consideration
Consideration is correct because the facts match something of legal value exchanged between the parties that supports a contract. That is the best description of the relationship, right, or legal concept tested here.
Answer Options
A
Legal capacityB
Legality of objectC
ConsiderationD
Statute of FraudsWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Contracts Question
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Background Knowledge for Contracts
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Real World Application in Contracts
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Common Mistakes to Avoid on Contracts Questions
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Related Topics & Key Terms
Key Terms:
contract_essentialscontractsconsiderationformation
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