The reward received by a party in a contract agreement is known as
COMMERCE
WAEC 2011
The reward received by a party in a contract agreement is known as
- A. consideration
- B. acceptance
- C. offer
- D. warranty
Correct Answer: A. consideration
Explanation
Consideration is a vital element in the law of contracts, consideration is a benefit which must be bargained for between the parties, and is the essential reason for a party entering into a contract. payment or money.
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