Question

Under the __________ approach, consideration is defined as a benefit received by the promisor or a detriment incurred by the promisee. pro-con i win, you lose gain-loss benefit-detriment

Answer 1

Under the benefit-detriment approach, consideration is defined as a benefit received by the promisor or a detriment incurred by the promisee.
In benefit-detriment approach, the contract that is made by 2 individuals MUST ONLY INCLUDE the give and take of those 2 individuals without involving a third party.