Consideration issues Clause Samples

Consideration issues. Consideration cannot be past: Consideration must exist within or after the promise. it involves actions or promises made before the contract was formed and therefore cannot be the basis for creating a new contract or modifying an existing one (▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇) Ex: You can’t buy this and that and sue a person that only agree to buy this Exception: Past consideration can be good if it was provided at the request of the promisor or the parties understood that there was an expectation the act would be paid/ rewarded or related to another(Re ▇▇▇▇▇’▇ Patents) - Renegotiating contracts - Existing duty + Traditional view: Performing an existing contractual or public duty is not good consideration (Stilk v ▇▇▇▇▇▇) ex: firefighter do firefighter jobs + Modern development: A consideration if it is a practical benefit to the promisor that may not be related/outside of the public duty or an existing contract. (▇▇▇▇▇▇▇▇ v ▇▇▇▇▇▇ Bros). Commercial contracts are often changed for necessary and if no consideration is giving, the renegotiation is not binding. (See ▇▇▇▇▇▇▇ v Pacific ▇▇▇▇) - Renegotiating debts: Part payment of a A debt is not good consideration + Payment accepted before the due date as final payment: ▇▇▇▇▇▇’▇ case (payment before due date) + Part or all the payment are accepted in some other form (other than cash) (ex:extra service, goods) + Part payment from a third party accepted as final payment(Hirachand ▇▇▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇). - ▇▇▇▇▇▇▇▇ promises: Very vague/ uncertain/ broad promises + ▇▇▇▇ and affection: I love you exchange for sth (▇▇▇▇▇▇▇▇ v ▇▇▇▇▇▇) + Pay me and I promise to stop complaining (White v ▇▇▇▇▇▇)
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Related to Consideration issues

  • Considerations 4.1 In full consideration of the contractor's performance under this contract, the State shall pay the contractor a sum not to exceed $ in accordance with the provisions of Appendix D. 4.2 When billing the State, the contractor shall refer to the Authority Number or the Agency Contract Number and send the billing to:

  • Consideration Received For purposes of any computation respecting consideration received pursuant to subsections (d), (e) and (f) of this Section 11, the following shall apply: (1) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Company for any underwriting or other sale or disposition of the issue or otherwise in connection therewith; (2) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as reasonably determined by the Board of Directors of the Company (irrespective of the accounting treatment thereof) and described in a Board resolution which shall be filed with the Warrant Agent; and (3) in the case of the issuance of securities convertible into or exchangeable for shares, the aggregate consideration received therefor shall be deemed to be the consideration received by the Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Company upon the conversion or exchange thereof for the maximum number of shares used to calculate the adjustment (the consideration in each case to be determined in the same manner as provided in clauses (1) and (2) of this subsection).

  • Consideration Payment The consideration paid to Contractor is the entire compensation for all Work performed under this Agreement, including all of Contractor's approved reimbursable expenses incurred, such as travel and per diem expenses, unless otherwise expressly provided, as set forth in Exhibit 8 (Fees, Pricing and Payment Terms).

  • Consideration a. Per the Interlocal Cooperation Act, Texas Government Code, § 791.025, or other applicable law, the DIR Customer satisfies the requirement to seek competitive bids for the purchase of goods and/or services. b. DIR agrees to allow DIR Customer to procure information resources technologies through existing Vendor contracts and Vendor contracts that DIR may enter into during the term of this interlocal cooperation contract, in accordance with specifications submitted through purchase orders from Customer. All DIR Vendor contracts shall be made available to the DIR Customer via the DIR Internet web site. DIR Customers utilizing the Cooperative Contracts shall issue a Purchase Order directly to the relevant Vendor. DIR Customers utilizing a DIR Contract for which DIR is the fiscal agent, the DIR Customer’s Purchase Order shall be issued to DIR. c. DIR Customer agrees to notify DIR of any substantial problems in quality or service in relations with a vendor under a DIR vendor contract.

  • Consideration and Payment The purchase price for the sale of the Purchased Assets sold to the Purchaser on the Closing Date shall equal the estimated fair market value of the Purchased Assets. Such purchase price shall be paid in cash to Santander Consumer in an amount agreed to between Santander Consumer and the Purchaser, and, to the extent not paid in cash by the Purchaser, shall be paid by a capital contribution by Santander Consumer of an undivided interest in such Purchased Assets that increases its equity interest in the Purchaser in an amount equal to the excess of the estimated fair market value of the Purchased Assets over the amount of cash paid by the Purchaser to Santander Consumer.