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That the Undersigned for a Good and Valuable Consideration, Form

That the Undersigned for a Good and Valuable Consideration, Form

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welcome to the contracts review of consideration and its alternatives so today we're going to go back through the whole doctrine of consideration and the alternatives of promissory estoppel and promissory restitutions as a reminder what are we talking about when we talk about contracts contracts are promises that courts were in will enforce and so a fundamental question to start at what we'll call first principles is what promises will courts enforce and why will they enforce only these types of promises we know that every promise needs to consist of an offer that has to meet conditions we discussed acceptance and consideration or an alternative plus the lack of defenses like statute of frauds or mistake today we're going to be talking about consideration and its alternatives but it makes sense to go back to first principles and one of my professors Richard Epstein argued that we can actually reduce the entire common law to a few basic rules that explain what co

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