Asked by
Naidy Balli
on Nov 29, 2024Verified
James promises to pay Brooke $2,500 if she does not sue him for negligently injuring her in a bicycle accident. If Brooke does not sue, James's promise to pay is binding because it is supported by consideration.
Consideration
A fundamental concept in contract law that refers to something of value exchanged between parties, which is required for a contract to be legally enforceable.
Negligently
Acting with a lack of reasonable care or concern for the consequences, leading to potential harm or damage.
- Understand the concept and elements of consideration in contracts.
Verified Answer
FA
Learning Objectives
- Understand the concept and elements of consideration in contracts.
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