The general rule is that each contract must meet the requirement of having consideration. Before responding to this week’s discussion board, please review Chapters 12 and 13.
In a new thread, please answer the following questions:
1. Please explain the purpose of consideration and why this element is necessary for contracts. Please feel free to reference a case example in Chapter 12 to support your explanation.
2. Identify one reason why a party could potentially avoid a contract based upon lack of real consent. Please refer to Chapter 13 and use only examples from the textbook.
While replies are encouraged, they are not a factor in your grade for this discussion post. A new thread must be posted before replying to other posts. Additionally, please also be sure to stay on topic and limit your discussion to only the questions posed. Please conduct yourself in the discussion board as you would in a professional, business environment. The Language should be appropriate for a professional context. I look forward to reading your posts!
As far as length requirements are concerned, the responses should be approximately 3 – 5 sentences per question.
