Discussion Board 4 – Contracts (consideration) – due by Wednesday 1 1 unread reply. 1 1 reply. Consideration Generally, for an agreement to constitute an enforceable contract, the agreement must be accompanied by reciprocal consideration. This means that

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Discussion Board 4 – Contracts (consideration) – due by Wednesday

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Consideration

Generally, for an agreement to constitute an enforceable contract, the agreement must be accompanied by reciprocal consideration. This means that each party must exchange something of “bargained-for” value. (Please see Chapter 12 and the chapter overview.) In a new thread, please answer the following questions:

1. Do you agree that consideration should be a requirement for a valid contract. Why or why not?

2. Do you think that the doctrine of promissory estoppel should apply in some instances as an exception to consideration? Please explain.