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8.1_cj

QuestionAnswer
Consideration What a person demands and generally must receive in order to make his or her promise legally binding
Gift Voluntary transfer of ownership without consideration
Donor Person giving a gift
Donee Person receiving a gift
Forbearance Refraining from doing what one has a right to do
Promisor Person who gives the promise or action in exchange for the promise or action of another
Promisee
Legal Value
Nominal Consideration
Created by: Chanse.j_
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