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In contract law, the term consideration refers to the serious thought that underlies a party's intent to enter into a contract.

True or False?

Sagot :

tarabhattarai197708

Answer:

In contract law, the term consideration refers to the serious thought that underlies a party's intent to enter into a contract. To be legally sufficient, consideration must be evidenced by something tangible. The element of bargained-for exchange distinguishes contracts from gifts.

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