Chapter_12 - LSB 3213 T. Urich th 10 Edition Chapter 12 -...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
LSB 3213 – T. Urich 10 th Edition Chapter 12 - Consideration There is only one issue in this entire chapter: Is there consideration? I. Definition of Consideration: Hamer v. Sidway (1891) A. Value -- legally sufficient (legal detriment) B. Bargained-for-exchange II. Issues Involving Consideration A. Adequacy of Consideration Seaview Orthopaedics v. NHR, Inc. (2004) B. Preexisting Duty 1. Statutory Duty 2. Contractual Duty 3. Exceptions a. Unforeseen Difficulties b. Rescission and New Contract c. Sale of Goods -- Modification C. Past Considerations Blackmon v. Iverson (2003) III. Problem Areas Concerning Consideration A. Uncertain Performance 1. Illusory Promise B. Settlement of Claims 1. Accord and Satisfaction or Release a. Liquidated debts cannot be discharged b. Unliquidated debts can be discharged 2. Release 3. Covenant not to sue IV. Promises Enforceable without Consideration A. Promises to pay debts barred by statute of limitations B. Promissory Estoppel (Detrimental Reliance) C. Charitable Subscriptions
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
LSB 3213 – T. Urich
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/17/2008 for the course LSB 3213 taught by Professor Urich,tara during the Spring '08 term at Oklahoma State.

Page1 / 2

Chapter_12 - LSB 3213 T. Urich th 10 Edition Chapter 12 -...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online