This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Not performing an act is consideration Important: both parties must have a benefit and a detriment 2 x 2 = 4 Doesnt matter that consideration isnt equal Benefit detriment test each side must suffer a detriment and receive benefit; doesnt have to be property or money, can be an act Change of contract under common law to change a contract, any modification must be supported by additional consideration, both sides must also agree E.g. Use my labor (service, not goods) to use Stantons shingles to put the roof on his house for $300, halfway thru I stop and want $100 more, Stanton agrees, legally eligible for only $300 Change of contract under A. 2-209 (sale of a good) Modification does not require additional consideration; simply means that...
View Full Document
This note was uploaded on 12/10/2011 for the course BLS 342 taught by Professor Miller during the Fall '08 term at Miami University.
- Fall '08