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

Executed Consideration

Executed consideration is a performed, or executed act in return for a promise. Therefore, in reward cases, for example, a promise to pay a reward when an act is done becomes enforceable only when that act is performed. Consideration is termed executory when the offer and acceptance consist of promises – the offeree making a… Continue reading Executed Consideration

Executory Consideration

Today we will be teaching you Executory consideration and Past considerations respectively. When will consideration be said to be adequate, sufficient or something of value in the eye of the law? More so, you will learn more about performabce od existing duty, duty imposed by law otherwise known as public duty, duty imposed by contract… Continue reading Executory Consideration