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Mean consideration refers to something of value exchanged by parties in a contract, such as money or services. Promise is a commitment made by one party to do something or refrain from doing something in the context of a contract or agreement. Both mean consideration and promise are essential elements of a legally binding contract.
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Do the phrases 'keep one's promise' 'deliver on one's promise' and 'honor one's promise' mean the same?
yes , since keep one's promise is like fulfilling a promise. and deliver on one's promise is like giving or "delivering them" what you promised. and honor one's promise is like to honor the promise enough to be able to fulfill it
What dose renege mean?
Renege means to go back on a promise, contract, undertaking.
What does prosposition mean?
A proposition is a statement or idea that is presented for consideration or discussion. It can be a proposal, argument, or assertion put forward for debate or acceptance.
What is the synonym for floor consideration?
"Floor consideration" can be considered synonymous with "debate" or "discussion on the floor."
What does consciencesly mean?
Consciously means being aware of and intentionally engaging in an action or behavior. It involves making decisions based on careful thought or moral consideration.
Is a promise enforceable despite the lack of consideration?
No
In what circumstances might a promise be enforced despite a lack of consideration?
Usually, a contract is only valid when there is bargained for consideration. However, the promise might still be enforced without consideration in cases that fall under the promissory estoppel. This means that the promise reasonably relied on the promise and has suffered a detriment due to the reliance.
What is an assumpsit?
An assumpsit is a promise or undertaking founded on a consideration, or an action to recover damages for breach of a promise.
What the price for which promise of the other is bought?
It is called consideration.
What is a consideration of a contract?
Consideration is the Promise or Performance that flows between the parties to a contract. It is also called legal detriment.
What is a badge of enforceability?
It is consideration given that allows for the enforcement of a promise/contract.
What are reciprocal promises?
reciprocal promise is , if free concent and the consideration of both party are there .
One promise may serve as consideration for many return promises?
true
What is a required element in all contracts by which a legal right or promise is exchanged for the act or promise of another person?
there should be a consideration for each party........
What is past consideration with exception?
past consideration is of no effect to consideration at all. It is where the defendant's promise is subsequent to the plaintiff's act and independent of it. for example, where P saves D from drowning; Das an expression pf gratitude, later promises to pay P a sum of money as a reward. Here P cannot sue D on his promise since P's consideration is past in time, D's promise being subsequent abd independent of A's act. The case of Re McArddle illustrates the concept of past consideration
What does it mean by consideration must move from promisee?
In contract law, consideration is the benefit received by each party in a contract. It must move from the promisee to the promisor, meaning that the promisee must provide something of value in exchange for the promise made by the promisor for the contract to be legally binding. This ensures that both parties are giving and receiving something in the agreement.
Will an unenforceable promise constitute consideration as long as the parties to the contract appear to be in agreement?
true
