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The traditional notion that courts won't look into the adequacy of consideration, an ancient notion in the English common law, doesn't square with the benefit-detriment theory (in which courts are implicitly analyzing if the parties are receiving a sufficient benefit) but does square with the bargain theory (in which only the subjective ...
Consideration may be past, present or future. Past consideration is not consideration according to English law. However it is a consideration as per Indian law. Example of past consideration is, A renders some service to B at latter's desire. After a month B promises to compensate A for service rendered to him earlier.
Consideration is an English common law concept within the law of contract, and is a necessity for simple contracts (but not for special contracts by deed). The concept of consideration has been adopted by other common law jurisdictions, including in the United States .
The pre-existing duty rule is an aspect of consideration within the law of contract. Originating in England the concept of consideration has been adopted by other jurisdictions, including the US. In essence, this rule declares that performance of a pre-existing duty does not amount to good consideration to support a valid contract; but there ...
A graduate certificate is an educational credential representing completion of specialized training at the college or university level. A graduate certificate can be awarded by universities upon completion of certain coursework indicating mastering of a specific subject area.
California Gov. Gavin Newsom fired back at President-elect Trump after a day-long back-and-forth over the California wildfire response.
In legal parlance, a peppercorn is a metaphor for a very small cash payment or other nominal consideration, used to satisfy the requirements for the creation of a legal contract.
DETROIT (Reuters) -U.S. automakers Ford Motor and General Motors will donate $1 million each, along with vehicles, to U.S. President-elect Donald Trump's January inauguration, company ...