Bob and Suzie are both signing a contract where Bob agrees to remove a beehive and Suzie agrees to pay Bob $120. 0. What is the

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Bob and Suzie are both signing a contract where Bob agrees to remove a beehive and Suzie agrees to pay Bob $120. 0. What is the

consideration in this example? a. Beehive removal b. Payment of $120. 00 c. Both the removal of a beehive and the payment of $120. 00 d. Neither the beehive removal nor the payment of $120. 0.

Business

1 answer:

ipn [44] · Answer 1 · 2023-06-19T18:55:06+03:00

The contract is defined as an agreement enforceable by law. Consideration is the promise made by the other party. The promise of one party is the consideration for the other party. Both the parties promise each other to perform their obligation in exchange for the consideration.

<h3>What is an agreement?</h3><h3 />

Agreement is every set of promises which results in the formation of consideration for each other. Their are always two parties to a contract and every party must perform its obligation which is the consideration for the other party.

Bob agreed to remove beehive , him removing the beehive is the consideration for Suzie. Suzie promised to pay $120 for removal of beehive is the consideration for Bob.

Therefore, the consideration in this example will be "Both the removal of a beehive and the payment of $120.00" OPTION C is correct regarding the problem.

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