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K > Consideration? > Flashcards

Consideration? Flashcards

1
Q

Questions to ask when determining whether have consideration:

A

Did this person limit his legal freedom/forego a legal right?

Did this person bargain for what is on the other side of the K line?

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2
Q

A promise needs consideration to be enforceable

A

Dougherty

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3
Q

A promise to make a gift is not legally enforceable

A

Dougherty

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4
Q

A promise to make a gift is not supported by consideration

A

Dougherty

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5
Q

A K is not without consideration simply because the promisor is not benefited

A

Hamer

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6
Q

A waiver of any legal right at the request of another party is a sufficient consideration for a promise

A

Hamer

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7
Q

Past consideration is not consideration

A

Schnell

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8
Q

Promising to forego a non-frivolous lawsuit is consideration

Promising to give up a frivolous lawsuit is not consideration

A

Schnell

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9
Q

Nominal consideration is not consideration

A

Schnell

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10
Q

Inadequate consideration is consideration

A

Schnell

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11
Q

No consideration for a conditional donative promise

A

Kirksey

Ex. teling homeless person to walk around corner to get coat - condition to satisfy, did not bargain for it

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12
Q

If requirement of consideration is met, no additional requirement of mutuality of obligation

A

Hancock Bank

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13
Q

Consideration does not require mutuality

Mutuality defined as both sides having same rights and getting same thing under the K

A

Hancock Bank

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14
Q

Requirements Contract

A

K that says “all I need” on one side

It is consideration (should be reasonable, nonzero amount)

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15
Q

K that says “all I want” or “If I feel like it”

A

No consideration

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16
Q

A K of sale is mutual where it contains an agreement to sell on the one side, and an agreement to purchase on the
other

It is not mutual where there is an obligation to sell but no obligation to purchase, or an obligation to purchase, but
no obligation to sell

A

Wickham

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17
Q

Need mutuality of consideration to have a K

Mutuality defined as both sides bound, have to actually follow through

A

Wickham

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18
Q

False recital of consideration does not negate consideration so long as there is consideration on both sides

A

Batsakis

19
Q

Improper Threat Test for when K is voidable

A

Element 1: Assent induced by improper threat

Element 2: By other party

Element 3: Leaves victim no reasonable alternative

20
Q

When a threat is improper (Terms do not matter):

A) What is threatened is a crime or tort or threat itself would be crime or tort if resulted in obtaining
property

B) What is threatened is a criminal prosecution

C) What is threatened is use of civil process and threat made in bad faith

D) Threat is breach of duty of good faith and fair dealing under another contract with recipient

Comment f: K dictated by economic forces- allowed to take advantage if you did not create the adversity

A

RS 176

21
Q

A valid K may be conditioned upon the happening of an event, even though the event may depend upon the will of the party

A

Scott

22
Q

A condition controlled by a third party does not change that both parties are bound

A

Eatherly

23
Q

To be a K, promisor must limit his freedom of voluntary choice in the future

A

Miami Coca-Cola

24
Q

Prediction of future willingness is not an expression of present willingness and is not a promise

A

Miami Coca-Cola

25
Q 
Illusory promise (don’t have to do it/did not limit freedom) is neither enforceable against the one making it nor is it
operative as a consideration for a return promise
A

Miami Coca-Cola

26
Q

A promise which is bargained for is consideration if, but only if, the promised performance would be
consideration

A

RS 75

27
Q

Promise or apparent promise is not consideration if by its terms the promisor of purported promise reserves
a choice of alternative performances

A

RS 77

28
Q

A modification of a K must be supported by consideration

A

Office Pavilion

29
Q

An illusory promise is not supported by consideration

A

Office Pavilion

30
Q

If promise “I will if I want to” then promise is illusory and not supported by consideration

A

Office Pavilion

31
Q

Any bargained for act or forbearance will constitute adequate consideration for a unilateral K

A

Harris

32
Q

If performance is bargained for, there is no further requirement of benefit to promisor or detriment to promisee

A

Harris

33
Q

A promise to use reasonable efforts is consideration

A

Lucy Lady Duff Gordon

34
Q

Performing an act that you are already obliged to do is not consideration

A

Gray

35
Q

Performance of a pre-existing legal duty is not consideration

A

Denney

36
Q

An illegal K is not enforceable

A

Gray

37
Q

A promise to pay a man for doing that which he is already under K to do is without consideration

A

Lingenfelder

38
Q

A K by both parties to void the K is supported by consideration

A

Lingenfelder

39
Q

A promise to accept partial payment as full payment of an undisputed debt amount is not enforceable (already had
duty to pay what owed – no consideration)

A

Foakes

40
Q

Past consideration will be sufficient if party making promise had obligation to pay that money before but obligation
unenforceable now:

o Statute of limitations has run
o Bankrupt
o Infancy – minor under age for K

A

Mills

41
Q

A pre-existing legal obligation which has become inoperative by positive law is always a sufficient consideration to support either an express of implied promise

A

Mills

42
Q

Where the promise cares for, improves, and preserves the property of the promisor, though done without his request, it is sufficient consideration for the promisor’s subsequent agreement to pay for the service, because of the material benefit received

A

Webb

43
Q

Past consideration is sufficient consideration to support a subsequent promise to pay where the promisor has received a material benefit, although there was no original duty or liability resting on promisor (i.e. save life)

A

Webb

44
Q

If benefit is material and substantial and to person of promisor rather than to his estate, it is within class of material benefits which he has the privilege of recognizing and compensating either by an executed payment or executor promise to pay

A

Webb

K (9 decks)

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