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That Referred to below as Grantorwhether One or More for Good and Valuable  Form

That Referred to below as Grantorwhether One or More for Good and Valuable Form

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Instructions and help about That referred To Below As Grantorwhether One Or More For Good And Valuable

at the conclusion of this lecture you will understand the need for consideration understand what is meant by adequacy and sufficiency of consideration and understand how an offer or contract can be terminated in common law a promise is not as a general rule as binding as a contract unless it is supported by consideration consideration is something of value which is given for a promise and is required in order to make the promise enforceable as a contract this is traditionally either some detriment to the promisee in that he may give value and or some benefit to the promiser in that he may receive value for example payment by a buyer is consideration for the seller's promise to deliver goods and delivery of goods is consideration for the buyer's promise to pay an informal promise does not amount to a contract as consideration is deemed not to be given by either party the traditional definition of consideration as set out in curry versus misa 1875 a valuable consideration

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