5. They are legal, which are sufficient to support the contract or illegal, which render it void. As to illegal considerations, see 1 Hov. Supp. to Ves. jr. 295; 2 Hov. Supp. to Ves. jr. 448; 2 Burr. 924 1 Bl. Rep. 204. If the, performance be utterly impossible, in fact ...
Consideration is a legal term used to describe the benefit each party to a contract receives. This is often payment in exchange for goods or services. Consideration doesn’t actually have to be money though – it can be anything of value that you get as part of a contract, like equipment...
Also found in: Thesaurus, Medical, Legal, Financial, Idioms, Encyclopedia, Wikipedia. con·sid·er·a·tion (kən-sĭd′ə-rā′shən) n. 1. a. Careful thought; deliberation: We will give your proposal consideration. b. A result of considering; an opinion or a judgment: Is ...
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whether as principal or surety) with interest thereon in accordance with and as provided under the covenants terms and conditions contained in the Legal Charge/Mortgage attached hereto and the Facility Letter therein referred to as if he had already executed the Legal Charge/Mortgage and was bound...
Operation and EffectThe mutual rights of the parties are controlled by the terms of their rescission agreement. The parties are generally restored to their original rights in regard to the subject matter. They no longer have any rights or obligations under the rescinded contract, and no claim or...
What is consideration in contract law? The legal definition Consideration in business law is an essential,legally binding contractelement. It describes the “bargained-for exchange” in which each party must offer something valuable in exchange for something valuable. ...
in·con·sid·er·ate (ĭn′kən-sĭd′ər-ĭt) adj. 1.Thoughtless of others; displaying a lack of consideration:It is inconsiderate to make noise when people are trying to study. 2.ArchaicNot well considered or carefully thought out; ill-advised:an inconsiderate notion. ...
Legal Financial Idioms Encyclopedia Wikipedia Graphic Thesaurus🔍 DisplayON AnimationON Legend Synonym Antonym Related </>embed</> keep in view make allowanc... take into acc... weigh think about take somethin... tip perquisite recompense ...
500 after he realizes that the renovation will take longer than he had expected. B agrees to the new terms and A goes ahead with the work. When A has finished the work, B only needs to pay A the $1,000 that they had initially agreed since A has a legal duty in the previous ...