How can forbearance act as consideration

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Reference no: EM132181553

1. How can forbearance act as consideration? Explain the general rule where forbearance can and cannot be utilized as consideration to a contract.

2. Actual performance, action by a party to an agreement, or external causes can all interplay in discharging an agreement. Explain the process of discharging an obligation under a contract that results from an operation of law.

3. Contracts can be made to benefit parites not associated with the agreement when it is created. Additionally, contracts can also be assigned, or transferred, to a third party to satisfy an obligation or to confer a benefit. Distinguish intended from incidental beneficiaries. Provide an example of each in your response.

Reference no: EM132181553

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