Final answer:
Consideration in contract law can be an act, a promise, or a forbearance.
Step-by-step explanation:
No, the statement that consideration always must be an act or the promise to perform an act is false. In contract law, consideration refers to something of value that is exchanged between parties to a contract. While consideration can be an act or the promise to perform an act, it can also be a forbearance, which means refraining from doing something. For example, if someone promises to pay you $100 if you stop smoking for a month, the act of refraining from smoking would be considered valid consideration.