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Business LibreTexts

11.1: Introduction

  • Page ID
    19168
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    LEARNING OBJECTIVES

    After reading this chapter, you should understand the following:

    1. What “consideration” is in contract law, what it is not, and what purposes it serves
    2. How the sufficiency of consideration is determined
    3. In what common situations an understanding of consideration is important
    4. What promises are enforceable without consideration
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