2.2. Consideration

Try these first

1. 1.

   What is consideration in a contract?

   Hint

   Think about what each party brings to the contract.

2. 2.

   Name one type of consideration.

   Hint

   Consider the timing of the exchange.

3. 3.

   What must consideration be for a contract to be enforceable?

   • Illegal
   • Unlawful
   • Lawful

   Hint

   Think about compliance with law.

4. 4.

   True or False: Past consideration is always valid.

   • True
   • False

   Hint

   Consider the implications of timing.

5. 5.

   Evaluate a contract formed for an illegal activity. Discuss its enforceability considering the role of consideration.

   Hint

   Reflect on legal principles surrounding contract legality.

6. 6.

   Analyze a scenario where consideration is vague in a contract. Determine the impact on enforceability.

   Hint

   Think about how specificity affects contract clarity.