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NOW, THEREFORE, in Consideration of the Loan and for Other Good and Valuable Consideration, the Form

NOW, THEREFORE, in Consideration of the Loan and for Other Good and Valuable Consideration, the Form

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Instructions and help about NOW, THEREFORE, In Consideration Of The Loan And For Other Good And Valuable Consideration, The

in the past couple of lectures we looked at the ideas of offer and acceptance and how those two elements helped to form an agreement between two parties who were forming a contract however that on its own is not actually enough there has to be something that's exchanged between the parties you can imagine for example an employment contract where your labor is exchanged for money or maybe a property contract where money is exchanged for land that actual thing that is swapped between the parties is called the consideration and that's what we're going to be focusing on today including some of the key principles that are involved so without further ado let's get started so there was actually a time in the pre-victorian era where considerations in something substantial to be exchanged between the parties was not actually a requirement and it was felt that a person's promise should be good and they should hold to their words but the reality was that th

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