Contracts law 101 begins with offer, acceptance, and consideration. Most people have some level of understanding when it comes to the first two - offer and acceptance. Not only do most people have experiences with offer and acceptance, the language adds to the familiarity. Consideration, on the other hand, is as an unfamiliar word as it is a legal concept.
Consideration is often used with its Latin equivalent, “Quid Pro Quo” which translates as something for something. In contracts jargon that me...
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