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In Consideration of the Payment of $22, 500 Form

In Consideration of the Payment of $22, 500 Form

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module three consideration the consideration principle most contracts require consideration to be binding the element of consideration ensures that each party receives something in exchange for his action or promise or conversely that the party gives something up in exchange for the other parties action or promise consideration means a bargained for performance or return promised to meet this requirement the performance or return promise must be sought by the promise or in exchange for his promise and given by the promisee in exchange for that promised consideration is considered quid pro quo latin for this for that a return promise as a form of consideration may be given to the premise or or to a third party a performance may include an act other than a promise a forbearance which means to refrain from acting or the creation modification or destruction of a legal relation in the case of hammer versus said--we for example the New York Court of Appeals ruled that refraining from the use

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