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Unformatted text preview: Rule: Consideration is, having each party give up a legal right or limit, or restrict, or forbid a legal right or property. Nominal consideration does not count as consideration. Rational: The 3 considerations that was purposed by the defendant did not amount to a consideration to bind the agreement as a contract. 1 cent is a nominal amount of money, with a specific value. Unless the value could be undetermined, such as an artifact penny, then it is not even considered consideration, that would make it binding. The love and affection could be a consideration ONLY if there was an agreement between the wife and the husband, for the husband to pay it out. The will was unenforceable, so that itself would not be considered a consideration. Holding: Nominal, and non-binding consideration is not considered 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