Consideration and promissory estoppel essay

Many contracts provide a recital (a statement at the beginning of the contract) that the contract is being entered into "for good and valuable consideration, the sufficiency of which is acknowledged," or something to that effect. The writers of these contracts mistakenly believe that simply stating that consideration exists actually fulfills the requirement of contractual consideration. In a majority of states, however, this is not the case; such recitals don't prove anything. In other words, saying there is consideration doesn't necessarily mean there is consideration.

Consideration and promissory estoppel essay

consideration and promissory estoppel essay

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consideration and promissory estoppel essayconsideration and promissory estoppel essayconsideration and promissory estoppel essayconsideration and promissory estoppel essay