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Why past consideration is not good consideration?
Past consideration is not good consideration because it is not contingent on the responding consideration. For example, suppose I gave you $20 on Tuesday as a gift. And then on Friday, you offered to...
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Why a past consideration is not a good consideration?
Do you mean consideration for contract formation? To have a bargain, you have to be willing to give something up. For example, if we had a contract for the purchase of your car for $5000, you would...
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How is consideration distinguished from the doctrine of past consideration?
Essentially past consideration in common law is by its nature not consideration. Consideration is defined as a bargain for exchange. Where one element of a deal has already occurred before the deal...
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What is the legal effect of a past consideration?
my attempt at trying to answer it is as follows. Consideration does not need to flow in any particular direction if the contract is offered before being accepted. But once it does start to flow the...
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What is past consideration with exception?
Past consideration "Something which has already been done at the time the promise is made."..............in simple words we can say that,,,,,,,,a work has been done after which the promise is...