Question

Which of the following is correct with regard to consideration?

Select one:
O a. Legal sufficiency is always related to adequacy of consideration.
O b. In a unilateral contract, a promise is exchanged for an act or forbearance to act.
O C.
In a bilateral contract, there is an exchange of promises.
O d. Two of these are correct.

Answer 1

The correct statement with regard to consideration is:

In a unilateral contract, a promise is exchanged for an act or forbearance to act.

So, option b is the correct statement.

Step-by-step explanation:

In a unilateral contract, one party makes a promise in exchange for the other party's performance of an act or forbearance from acting. In contrast, in a bilateral contract, there is an exchange of promises, where both parties promise to do something in the future.