Define and discuss the concept of consideration

Assignment Help Business Management
Reference no: EM131003735

At page 199, your textbook states: "As a general rule, an agreement without consideration will not be an enforceable contract, because consideration is so important as the binding element within a contractual relationship." Research and explain why this is so. In so doing, define and discuss the concept of consideration, including within your discussion the distinction between adequacy of consideration and sufficiency of consideration.

Page 199 is attached so this short assignment can be complete. Please include at least 2 references in APA format. Total length should run at least 250 words or until the question is fully answered. Please do not plagiarize. 

Attachment:- Page 199.pdf

Reference no: EM131003735

Questions Cloud

John is aware that the structure of organization : John is aware that the structure of his organization must change in order to compete more effectively in today's global market. However, he is not sure which structure would work best for his company. His company is currently organized around account..
The capital budgeting decision techniques : The capital budgeting decision techniques that we've discussed all have strengths and weaknesses, but they do comprise the most popular rules for valuing projects. Valuing entire businesses, on the other hand, requires that some adjustments be made t..
Which of the following is included in the fifth amendment : Which of the following is included in the Fifth Amendment? A corporate officer may sometimes be found liable even when the officer had no actual knowledge of or control over, the activities in question
Determine the amounts necessary to record j matts : Determine the amounts necessary to record J-Matt's income taxes for 2011 and prepare the appropriate journal entry.
Define and discuss the concept of consideration : Research and explain why this is so. In so doing, define and discuss the concept of consideration, including within your discussion the distinction between adequacy of consideration and sufficiency of consideration.
Spring 2000 exam : a. Construct an ordered stem and leaf display to sort the data. b. After examining the stem and leaf display prepared in a., comment on the possible distribution of the number of cases purchased by the supermarket chain.
Find general solution of third order differential equation : Find the general solution of the following third order differential equation y''' - 6y'' + 11y' - 6y = 0 given that r = 3 is a root of its characteristic polynomial P(r).
How much helium boils away per hour : Liquid helium is stored at its boiling point (4.2 K) in a spherical can that is separated by an evacuated region of space from a surrounding shield that is maintained at the temperature of liquid nitrogen (77 K). If the can is 57 cm in diameter a..
Calculate the amount by which superior should reduce : The enacted tax rate was 40%. This year, a new tax law was enacted, revising the tax rate from 40% to 35% beginning next year. Calculate the amount by which Superior should reduce its deferred tax liability this year.

Reviews

Write a Review

Business Management Questions & Answers

  Effect of language - conflict and personality on teams

What possible conflicts could arise when the group does not come to a consensus as to who is in and who should be out of the group?

  Explain the ethics training methodologies

Should ethics training focus on compliance with legal standards and Is this a sufficient objective

  Explain why you would need to consider reliability

Explain why you would need to consider reliability when conducting research

  Addresses common errors to implementing change

Implementing change identified above that surprise you? Please share with us your experience with any of them, and what you learned from a leadership perspective.

  Case: gourmet to go

Summary of the powerpoint about the case Gourmet to go - Introducing the organization.

  Classify information provided for you by your custome

Some of the necessary information has not yet been provided for you by your customer. Classify it. You have managed to solicit an in-kind donation of 30 bottles of wine from a large winery. Modify all parts of your scope statement to support?

  Federal correctional organization and administrations

500 Word paper: compare and contrast state and federal correctional organization and administrations, give an opinion based on research. Stay away from the passive voice and first person when writing. Incorporate at least one peer-reviewed journa..

  What steps did the km group at infosys take to improve

What steps did the KM group at Infosys take to improve participation in the KM system? Why were some of these initiatives   counterproductive? The KM group responded with corrective initiatives. Do you think these will succeed? Why or why not?

  Stress reduction and the workplace

Write a paragraph explaining how you would reduce stress at work. Also, why do you believe this approach would be successful

  Factors in purchasing a personal computeryou are

factors in purchasing a personal computeryou are considering purchasing a personal computer. what factors would affect

  Discuss jones legal situation

It turns out that Jones was negligent in performance of all the appraisals that led to material misstatements on the financial statements of all years concerned. Jones did not know that the appraisals or financial statements were misstated. Discus..

  Which scarce resources are allocated and distributed.

Information Politics: By "politics", we mean here the processes by which scarce resources are allocated and distributed.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd