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Unformatted text preview: in ascertaining the presence of consideration, the courts will not weigh the consideration, or insist on a fair or even exchange. Roy Notes : Nominal consideration v. adequacy of consideration inadequate consideration still has a bargained for exchange. Nominal consideration isnt a quid pro quo. It didnt induce the promise. Classical Theory not concerned with fairness Restatement (Second) 79 no requirement or equivalence in the values exchanged. (However, gross inadequacy of consideration may be relevant). If the requirement of consideration is met, there is no additional requirement of (a) a gain, advantage, or benefit to the promisor or a loss, disadvantage, or detriment to the promise; or (b) equivalence in the values exchanged (Batsakis); or (c) mutuality of obligation Mutuality of Obligation there is no such thing; it is not a requirement we still recognize...
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- Fall '08