Description
The general rule is that each contract must meet the requirement of having consideration. This means that each party must give something of value and there must be a bargained for exchange. In a new thread, please answer the following questions: 1. Please explain the purpose of consideration and why this element is necessary for contracts. Please reference a case in Chapter 12 to support your explanation. 2. Do you think that the items exchanged should be of equivalent value?
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