BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not a type of consideration?
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paying money to another
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bartering goods and services
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writing a fair contract
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a forebearance
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Explanation:
Detailed explanation-1: -Types: Consideration could be a promise, performance, forbearance, or property with legal value, but the economic benefit is not required.
Detailed explanation-2: -Bribe is not a valid consideration for a contract. Bribery is the act of giving or receiving something of value in exchange for some kind of influence or action in return, that the recipient would otherwise not offer.
Detailed explanation-3: -Hence, Open tender is not a type of contract.
Detailed explanation-4: -Which of the following would not be considered an example of consideration? Performance of a duty you are obligated to do under the law is not good consideration.
There is 1 question to complete.