The four core elements that make a promise enforceable are: Offer – One party proposes a deal. Acceptance – The other party agrees to the terms. Consideration – Something of value is exchanged.

Under the law, a promise, oral or otherwise, is enforceable as a contract only if it is accompanied by "consideration." Basically, consideration means that the promise was given in exchange for ...

In short, someone must make an offer to sell or do something; the other party must accept the offer and something of value must be exchanged (consideration). If, following the formation of the ...

Investopedia / Mira Norian Promissory estoppel is the legal principle that a promise is enforceable by law, even if made without formal consideration when a promisor has made a promise to a ...

According to a recent report by Gallup, a brand promise represents everything ... from its rivals and what makes it worthy of customers' consideration. Yet Gallup finds that“only half of ...

When someone makes a promise to compensate another party for a benefit that has already been received because of a sense of moral obligation, this promise of compensation is referred to as moral ...