The term “consideration” is a concept in English law that refers to the price paid in exchange for the fulfillment of a promise. The court in the case ofCurrie v Misadefined consideration as a right, interest, profit, detriment, loss, or responsibility. Its main characteristic is that the...
. In a contract, one consideration (thing given) is exchanged for another consideration. Not doing an act (forbearance) can be consideration, such as "I will pay you $1,000 not to build a road next to my fence." Sometimes consideration is "nominal," meaning it is stated for form only...
Minimum Consideration means the $.01 par value per share or such larger amount determined pursuant to resolution of the Board to be capital within the meaning of Section 154 of the Delaware General Corporation Law. Contract Consideration has the meaning set forth in the definition of “Excess Cas...
In a contract, one consideration (thing given) is exchanged for another consideration. Not doing an act (forbearance) can be consideration, such as “I will pay you ＄1,000 not to build a road next to my fence.” Sometimes consideration is “nominal,” meaning it is stated for form only...
Foracontracttobelegallybinding,theremustbemutualconsideration,meaningthateachpartymustreceivesomethingofvalueandgivesomethingofvalueinreturn.Additionally,theconsiderationmustbesufficientbutneednotbeofequalvalue.Itisalsoimportanttonotethatpastconsideration(i.e.,somethinggivenorpromisedinthepast)isgenerallynotvalidconsiderati...
Minimum Consideration means the $.01 par value per share or such larger amount determined pursuant to resolution of the Board to be capital within the meaning of Section 154 of the Delaware General Corporation Law. Additional Consideration has the meaning set forth in Section 3.2. Stock Considerati...
Definition of Inadequate Consideration in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is Inadequate Consideration? Meaning of Inadequate Consideration as a legal term. What does Inadequate Consideration mean in law?
present or future. But according to English law, consideration may be present or future but never past. 4) Consideration need not be adequate: consideration need not be adequate to the promise, but it must be of some value in the eye of law. So long as consideration ...
another a bargain of any kind, proposes to do this: Give me that which I want, and you shall have this which you want, is the meaning of every such offer; and it is in this manner that we obtain from one another the...
Related to inconsideration:distinct meaning 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.