Want of Consideration
WANT OF CONSIDERATION
A comprehensive term for all transactions or situations where no inducement to a contract was intended to pass between the parties thereto and, therefore, no legally enforceable contract is created.
Want of consideration differs from failure of consideration, which refers to a situation wherein consideration was originally existing and valid but has since become valueless or ceased to exist.
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Consideration , Something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.
Consideration i… Considerate , considerate •gamut •imamate, marmot •animate •approximate, proximate •estimate, guesstimate, underestimate •illegitimate, legitimate •intimate •penul… Modification , A change or alteration in existing materials.
Modification generally has the same meaning in the law as it does in common parlance. The term has spec… Contract , contract, in law, a promise, enforceable by law, to perform or to refrain from performing some specified act. In a general sense, all civil obligatio… Balata , balata The latex of Manilkara bidentata (family Sapotaceae), obtained from incising the trunk, which was formerly of considerable commercial importan… Statute Of Frauds , A type of state law, modeled after an oldenglish law, that requires certain types of contracts to be in writing.
U.S. law has adopted a 1677 English…
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Want of Consideration