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BSL 212 (11)
Chapter 12

BSL212 Chapter 12: Consideration .pdf

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Department
Business Law
Course
BSL 212
Professor
Martin Segal
Semester
Spring

Description
Is the Agreement Legally EnforceableConsideration A mutual current bargained for value exchange of benefit what you receivedetriment what you give upAdequacy Rule courts dont inquire about thevalues exchanged Market values dont matter when selling an itemGift promise is not legally enforceable because you dont suffer any detriment ExceptionsPromissory Estopple A A promise to a charity is legally enforceableBPreexisting duty come to modify a preexisting contract Not EnforceableExceptionCreate current detriment A Substituted Contract cancel contract substitute new contract now nothing pre
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