sufficient consideration


sufficient consideration
That which is actually given, suffered, or accepted for a promise, whether slight or significant, and whether reducible or not to a pecuniary value, provided it is a present consideration or within one of the judicial or statutory exceptions to the requirement of a present consideration. 17 Am J2d Contr § 92.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • legally sufficient consideration — Consideration which the law recognizes as legally adequate to support a valid contract. See consideration …   Black's law dictionary

  • legally sufficient consideration — Consideration which the law recognizes as legally adequate to support a valid contract. See consideration …   Black's law dictionary

  • consideration — con·sid·er·a·tion n: something (as an act or forbearance or the promise thereof) done or given by one party for the act or promise of another see also contract compare motive ◇ Except in Louisiana, consideration is a necessary element to the… …   Law dictionary

  • consideration — The inducement to a contract. The cause, motive, price, or impelling influence which induces a contracting party to enter into a contract. The reason or material cause of a contract. Some right, interest, profit or benefit accruing to one party,… …   Black's law dictionary

  • consideration — The inducement to a contract. The cause, motive, price, or impelling influence which induces a contracting party to enter into a contract. The reason or material cause of a contract. Some right, interest, profit or benefit accruing to one party,… …   Black's law dictionary

  • consideration — /keuhn sid euh ray sheuhn/, n. 1. the act of considering; careful thought; meditation; deliberation: I will give your project full consideration. 2. something that is or is to be kept in mind in making a decision, evaluating facts, etc.: Age was… …   Universalium

  • Consideration — Contract law Part …   Wikipedia

  • consideration — A legal term used to describe the benefit that a borrower, guarantor, or pledgor receives in exchange for agreeing to repay, guarantee, or pledge security to the bank. Usually, but not always, the consideration is the proceeds of the loan. In… …   Financial and business terms

  • sufficient — Adequate, enough, as much as may be necessary, equal or fit for end proposed, and that which may be necessary to accomplish an object. Of such quality, number, force, or value as to serve a need or purpose. Nissen v. Miller, 44 N.M. 487, 105 P.2d …   Black's law dictionary

  • Consideration in English law — is one of the three main building blocks of a contract. Consideration can be anything of value (such as an item or service), which each party to a legally binding contract must agree to exchange if the contract is to be valid. If only one party… …   Wikipedia