The requirement that each party to a contract must intentionally exchange something of value as an inducement to the other party to make a return exchange is known as:

a. mutual assent.
b. consideration.
c. legality of object.
d. contractual capacity.


b

Business

You might also like to view...

Project managers should encourage ________ conflict.

Fill in the blank(s) with the appropriate word(s).

Business

Which of the following types of business is least likely to employ a conversion process?

A. Machine shop B. Retail store C. Bakery D. Restaurant

Business

By which dimension would a culture that promotes collaboration be heavily characterized?

a. order and consistency b. achievement c. clan d. adaptability

Business

The market rate of interest for a bond issue that sells for more than its par value is

a. less than the rate stated on the bond. b. equal to the rate stated on the bond. c. higher than the rate stated on the bond. d. independent of the rate stated on the bond.

Business