Unformatted text preview: Promising to not exercise a legal right such as smoking. Consideration is: What is demanded by the promisor as the price for the promise? The promisor can demand the nature of the consideration in return for her promise. When there is no consideration for a promise, the agreement is: Not binding. The agreement is not necessarily void, unless it has an illegal purpose in which case the agreement is void. In a unilateral contract, the consideration for the promise is: The doing of the act called for by the promisor. In a unilateral contract, consideration for the promise is performance by the promisee. Generally, courts will consider the adequacy of the consideration only when: One party claims to have been defrauded. If a party claims to have been defrauded, then the courts will examine the consideration involved in the transaction....
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- Summer '14