Multiple choice

What two parties give and get as consideration must be of equal economic value.

  1. TRUE

  2. FALSE

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Under the doctrine of adequacy of consideration, courts do not require that the items or promises exchanged in a contract be of equal economic value. As long as there is some legal value exchanged, the contract is supported by consideration. Therefore, the statement is false.