Question

Rory questions whether there is consideration for his contract with Silver Spurs Club to exchange his performance of country music on certain dates for Silver's payment of a certain amount.

To constitute consideration, the value of whatever is exchanged must be :

a. objectively worthy.

b. precisely adequate.

c. legally sufficient.

d. practically sound.

Answer 1

Answer: Option C

 

Explanation:

In simple words, legally sufficient refers that a contract  has been reviewed by an attorney who has confirmed that the contract made is in compliance with every rule and procedure in the eyes of law.

The legal sufficiency is checked so that in case of some future issues arising between the parties related, the jury could easily depict the problem and can help the guilty party accountable.

Thus, to constitute consideration the value of exchange must be legally sufficient.