Business Law Lesson

1 Slide • 3 Questions

1

Business Law

Chapter 8: Consideration

2

Multiple Choice

What parties give and get as consideration need not be of equal economic value is known as:

1

Legal Value

2

Nominal Consideration

3

Adequacy of Consideration

4

Contractual Exchange

3

Multiple Choice

When parties cannot state the amount precisely or they do not want the public to know.

1

Legal Value

2

Nominal Consideration

3

Contractual Exchange

4

Adequacy of Consideration

4

Open Ended

What is a transfer of ownership without receiving anything in return?

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Business Law

Chapter 8: Consideration

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