Sufficiency of Consideration

Sufficiency of Consideration. Whilst consideration need not be adequate, it must, however, have some value in the eye of the law. It must comprise some element which can be regarded as the price of the defendant’s promise. If consideration is too tenuous, vague, unascertainable, useless or meaningless, then it is insufficient and is, therefore, no… Continue reading Sufficiency of Consideration

Adequacy of Consideration

Adequacy of Consideration. As is commonly stated, in the Absence of fraud, duress or misrepresentation, the courts will not question the adequacy of consideration. This means that they do not measure the comparative values of the considerations furnished by the plaintiff and the defendants respectively nor will they declare a contract to be invalid simply… Continue reading Adequacy of Consideration