Multiple choice

Which of the following can arise from two detriments?

  1. Legal Value

  2. Nominal Consideration

  3. Contractual Exchange

  4. Adequacy of Consideration
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A Correct answer
Explanation

Legal value in consideration can be established when both parties agree to do something they are not otherwise legally obligated to do, or to refrain from doing something they have a legal right to do (a detriment). Thus, the mutual exchange of detriments creates the legal value necessary to support a contract. Nominal consideration, contractual exchange, and adequacy of consideration do not specifically define this concept of mutual detriments.

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