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3 Please explain the significance of consideration and whether some

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3. Please explain the significance of consideration and
whether something as small as a peppercorn could be
considered consideration.
Solution
Legal consideration is something of value which is
structured into a legal contract. For a contract to be valid,
both parties to the contract usually need to have
\"consideration.\" If one party has consideration and the
other does not, the contract may not be upheld if it is
challenged in court. In other words, both parties to a
contract need to agree to do something, however large or
small it may be, for them to enter into a legal agreement.
In a classic example of legal consideration, two people
could enter into a real estate sales contract. The first
person\'s consideration would be the house, which this
person would be giving up to the other person in
accordance with the contract. The second person\'s
consideration would be the payment for the house, which
might be in the form of money, traded services, or other
goods. Both parties have legal consideration and the

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3. Please explain the significance of consideration and whether something as small as a peppercorn could be considered consideration. Solution Legal consideration is something of value which is structured into a legal contract. For a contract to be valid, both parties to the contract usually need to have \"consideration.\" If one party has consideration and the other does not, the contract may not be upheld if it is challenged in court. In other words, both parties to a contract need to agree to do something, however large or small it may be, for them to enter into a legal agreement. In a cl ...
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