Unformatted text preview: party Rule: Consideration: A valuable consideration in the sense of the law may consist either in:-Some right-Interest-Profit-Benefit accruing to one party-Forbearance-Detriment-Loss-Responsibility given-Suffered-undertaken by the other. Rational: Court states that, the benefits does not have to be directly towards the parties. As long as there was a promise for a promise/ performance, and it was completed, then contract exist w/ consideration. In this case, the Uncle had a bilateral contract stating that he would pay if the nephew refrained from drinking, smoking, and gambling through cards and billards. He completed his end for the bargain, and the uncle affirmed it. Consideration may consist of benefit OR detriment. Holding: There was adequate consideration. Synthesis: Dissent/Concurrences:...
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This note was uploaded on 12/20/2011 for the course CONTRACTS 111 taught by Professor Dellinger during the Fall '11 term at Western State Colorado University .
- Fall '11