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WAEC Commerce 1998 Question 45

Question 45

Law of Contract

Ola presented his motor-cycle for sale to Musa at a cost of N8,000. Musa agreed and bought the vehicle at the same amount.
The N8,000 for the sale is

  1. A.an offer
  2. B.an acceptance
  3. C.a consideration
  4. D.a warranty
  5. E.a security
Show the answer and explanation

Answer: C (a consideration)

Explanation

The price paid in return for the motor-cycle is the consideration.