BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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consideration is inadequate.
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consideration is not in the form of money.
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a person gives up his or her legal rights.
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no promise is given or act completed for the offeror’s promise.
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Detailed explanation-1: -A contract can be declared unenforceable if a court is convinced that coercion was used to facilitate the signing. An example would be if blackmail was used as leverage to facilitate the contract. Courts can also declare a contract unenforceable when one of the parties to the contract has undue influence on the other.
Detailed explanation-2: -A promise to make a gift is unenforceable because a transfer of property is made by one party without return consideration from the other party.
Detailed explanation-3: -Consideration is a promise, performance, or forbearance bargained by a promisor in exchange for their promise. Consideration is the main element of a contract. Without consideration by both parties, a contract cannot be enforceable.
Detailed explanation-4: -Meaning of unenforceable contract in English a contract that cannot be accepted as legal in a court of law because of a condition that is not legal, information that is not correct, etc.