Readers ask: A Promise To Do What One Already Has A Legal Duty To Do Is Legally Sufficient Consideration.?

What is meant by legally sufficient consideration?

• Consideration, which must be given in order to make a contract legally binding, is legally sufficient and bargained-for value, given by the promisor in return for the promisee performing or refraining from performing some act which results in a detriment to the promisee and/or a benefit to the promisor.

Is a promise to do something that is already required to do either by law or by contract?

a promise to do something that one is already required to do either by law or by contract represents no additional sacrifice and is not valid consideration. – since there’s no consideration, the promise is not binding. consist of an indefinite, open-ended statement purporting to be an agreement.

Is a promise to do something you are already legally obligated to do?

A promise to do something you are already obligated to do is not valid consideration.

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What means legally sufficient to establish a case?

Overview. Prima facie may be used as an adjective meaning “sufficient to establish a fact or raise a presumption unless disproved or rebutted.” An example of this would be to use the term “prima facie evidence.” A prima facie case is the establishment of a legally required rebuttable presumption.

What are the six rules of consideration?

Rules of consideration

  • The consideration must not be past.
  • The consideration must be sufficient but need not be adequate.
  • The consideration must move from the promisee.
  • An existing public duty will not amount to valid consideration.
  • An existing contractual duty will not amount to valid consideration.

What are the 3 requirements of consideration?

Each party must make a promise, perform an act, or forbear (refrain from doing something).

What are the 4 elements of a valid contract?

The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.

Is a promise not to sue consideration?

A promise subsequent to a promisee’s act, not bargained for; it does not count as consideration. The law stipulating how long after a cause of action arises that a person has to sue on it. To be prohibited from denying a promise when another subsequently has relied on it.

What are two exceptions to the rule requiring consideration?

One exception to the rule requiring consideration is promissory estoppel. In a bilateral contract the considerations for each promise is a return promise. In a unilateral contract, the consideration is one partys consideration is the promise and the other partys consideration is the act.

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What are the exceptions to the rule no consideration no contract?

Gifts. The rule of no consideration no contract does not apply to gifts. Explanation (1) to Section 25 of the Indian Contract Act, 1872 states that the rule of an agreement without consideration being void does not apply to gifts made by a donor and accepted by a donee.

Is a promise legally binding?

A promise is not legally binding, but a contract is. The person to whom you made the promise must take reasonably foreseeable action to his or her detriment on the basis of the promise that you made, and the person’s reliance on your promise must cause him or her a financial injury.

What are the legal rules regarding consideration?

Legal rules regarding consideration Consideration must move from the promisee but need not flow to the promisor. Consideration must be sufficient but need not be adequate. Consideration cannot be illusory. Consideration must not be past.

What is a valid consideration?

Consideration is some thing of value promised by one party to another while entering into a contract. For a consideration to be valid there must be a promise from both sides. This means that there must be a promise by one party against the promise of the other party.

What is the sufficiency of consideration?

Sufficient consideration is a consideration deemed by law to be of sufficient value to support an ordinary contract between parties. It is also defined as a consideration that is sufficient to support a particular transaction.

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