See also:attention, regard or taking into account, hence the fact taken into account, and especially something given as an
See also:equivalent or
See also:reward or in payment; in the
See also:law of contract, an
See also:act or forbearance, or the promise thereof, offered by one party to an agreement, and accepted by the other as an inducement to that other's act or promise (
See also:Pollock on Contract) .
See also:Consideration in the legal sense is essential to the validity of every contract unless it is made in writing under seal . The meaning of the word is quite accurately expressed by a phrase used in one of the earliest cases on the subject—it is strictly a quid
See also:pro quo . Something, whether it be in the nature of an act or a forbearance, must move from one of the parties in
See also:order to support a promise made by the other . A mere promise by A to give something to B cannot be enforced unless there is some consideration " moving from B." While every contract requires a consideration, it is held that the
See also:court will not inquire into the adequacy thereof, but it must be of some value in the
See also:eye of the law . It must also be legal, and it must be either
See also:present or future, not past . See further CONTRACT .
CONSIGNMENT (from consign, Fr. consigner, Lat. cons...
There are no comments yet for this article.
Do not copy, download, transfer, or otherwise replicate the site content in whole or in part.
Links to articles and home page are encouraged.