Acts or promises {consideration} are inducements for offerers and offerees to enter contracts. Consideration must have value, result from bargaining, and be expressly in exchange for other party's promise or act. Consideration must give substantial benefit to receiver and substantial detriment to giver. Considerations cannot be past actions. Considerations cannot be duties that parties must do already. Considerations cannot promises with no consequences. If unequal values exchange, contracts are not enforceable.
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Date Modified: 2022.0224