JD Next Practice Exam

When comparing Feinberg's promise about a fair share of profits, what indicates that consideration exists?

1. A clear agreement and measurable terms

2. Silence from the employee indicates agreement

3. The promise made is vague and conditional

4. A witness confirms the agreement

The correct answer is: A clear agreement and measurable terms

The presence of consideration in a promise, particularly regarding contractual obligations, is best established through a clear agreement with measurable terms. In this context, clear agreements outline specific expectations and obligations that both parties have toward each other, allowing for a mutual understanding of what is to be exchanged in the promise. This clarity ensures that the promise is enforceable and indicates that both the promisor and promisee have agreed on the specific terms of the profit-sharing arrangement. By having measurable terms, it not only solidifies the intent behind the promise but also provides a framework for assessing whether the terms have been fulfilled. In contractual law, consideration is crucial as it denotes the value exchange between parties, and having precise and clear stipulations facilitates the determination of that consideration. Other options lack the necessary characteristics to indicate consideration effectively. For instance, silence from the employee does not inherently show agreement or any mutual assent to the terms of the promise, while vagueness in a promise undermines its effectiveness as there are no clear standards for what constitutes fulfillment. Furthermore, while a witness may support the existence of an agreement, it does not establish the critical aspect of measurable terms and mutual consideration required for a binding contract. Thus, the option highlighting a clear agreement with measurable terms best indicates that