LEARNING OUTCOME ONE: Understand The Essential Elements Of A Valid Contract In A Business Context10/14/2016 LESSON OBJECTIVE
Assessment Criteria AC 1.3 Analyse terms in contracts with reference to their meaning and effect Below are questions pertaining to lesson 3. Please ensure to answer each question correctly. What is the meaning of valuable consideration? 2. What is meant by a gratuitous promise and what is the effect of such a promise? 3. What is executory consideration? 4. What is executed consideration?
29 Comments
SHASHIE MILLS
10/14/2016 12:38:38 pm
1. "Valuable consideration refers to a consideration that is valid under the law. It is a consideration that either confers a pecuniarly measurable benefit on one party or imposes a pecunarily measurable detriment on the other" (Definitions.uslegal.com, 2016)
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O'Neil James
10/14/2016 06:33:05 pm
Assessment Criteria AC 1.3
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Ahesha pinnock
10/15/2016 07:11:43 pm
1. A valuable consideration is recognize as a legal consideration that holds valuables from an economical background which are seen in contract which will cause it to be act up on. (Gerald and Hill, 2016)
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Ronalyn Linton
10/16/2016 12:28:11 am
1. A valuable consideration is where both parties receive a benefit and also suffer a detriment. The consideration would be the benefit or the detriment. This is portrayed in the case study of Thomas v Thomas (1842). (E-law resources.co.uk,2016)
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O'Neil James
10/16/2016 04:24:23 am
Assessment Criteria AC 1.3
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Tashana Wilson
10/16/2016 04:27:34 am
Assessment Criteria AC 1.3
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Toby Mcnickol
10/16/2016 11:44:11 am
1. What is the meaning of valuable consideration?
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Nicka
10/16/2016 01:53:20 pm
UNIT 5
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kevoy smith
10/16/2016 01:55:50 pm
1. an element of a contract which ensures that both parties are beneficiaries
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10/16/2016 03:11:06 pm
1. What is the meaning of valuable consideration?
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Asha-lois Clarke
10/16/2016 04:44:59 pm
1. Consideration being the item or compensation for the good being exchanged , it means then it should be equal in value and worth to the item of exchange (West's Encyclopedia of American Law, edition 2, 2008)
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Nickole Dawkins
10/16/2016 05:15:04 pm
1: Valuable consideration was defined by (FreeDictionary.com, 2016) as being: ‘The formation of a valid and binding contract, something of worth or value that is either a detriment incurred by the person making the promise or a benefit received by the other person. It consists of promise to carry out or cease from doing an act that they are entitled to by law’.
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Stacy-Ann A Rowe
10/16/2016 06:38:52 pm
1) Valuable consideration is "something of worth or value that is either a document incurred by the person making the promise or a benefit received by the other person" (TheFreeDictionary.com, 2016).
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10/16/2016 07:51:25 pm
1. This is a legal consideration which forms an act based on a promise or benefit which have value to the person receiving it.(Research.lawyers.com, 2016)
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shanique davis
10/16/2016 08:26:04 pm
1.valuable consideration is something of worth or value that is either a person making the promise or a benefit received by the other person through an agreement(TheFreeDictionary.com, 2016).
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Shasania Sharpe
10/16/2016 08:44:36 pm
1. According to (TheFreeDictionary.com, 2016) "contracts and courts generally use the term valuable consideration to signify consideration sufficient to sustain an enforceable agreement."
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Christopher Cameron
10/16/2016 08:54:46 pm
1. Valuable consideration is a reward with an economic value needed to enforce a contract (Google, 2016).
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Latoya Gutzmore
10/17/2016 09:37:37 pm
What is the meaning of valuable consideration?
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Shantel Mason
10/18/2016 01:44:26 pm
1. A valid contract is essential to enforce a promise or contract, it is "consideration founded on an act, benefit, forbearance, interest, promise, right, or good or service that has some economic value" (BusinessDictionary.com, 2016).
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Chevon Murray
10/19/2016 09:43:34 am
1) a valuable consideration is a "consideration founded on an act, benefit, forbearance, interest, promise, right, or good and service that has some economic value." (businessdictionary.com, 2016)
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Shanyel Garricks
10/19/2016 02:06:35 pm
1. What is the meaning of valuable consideration?
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Keidean Reid
10/19/2016 11:15:38 pm
1. It is the formation of a valid and binding contract, that is of worth or value that is either a detriment incurred by the person making the promise or a benefit received by the other person.
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Nicka
10/22/2016 05:18:25 pm
1.What is the meaning of valuable consideration?
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Teneisha Kennedy
10/22/2016 11:34:52 pm
1 A benefit conferred or a detriment incurred by a party in exchange for another's promise. Valuable consideration may be non-monetary as long as it is of some value to one or both parties. (law.cornell.edu2016)
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Ahesha Pinnock
10/23/2016 02:21:48 am
1. According to TheFreeDictionary.com (2016) a valuable consideration is defined as "something of worth or value that is either a detriment incurred by the person making the promise or a benefit received by the other person".
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Thya Rodney
10/23/2016 02:25:39 am
1. According to Merriam-webster.com (2016) a valuable consideration means "an equivalent or compensation having value that is given for something acquired or promised (as money or marriage) and that may consist either in a benefit accruing to one party or a loss falling upon the other".
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Dalene cushnie
10/23/2016 08:27:29 pm
1)Valuable consideration is a necessary element of a contract, which confers a benefit on the other party.
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SASHAE DILLWORTH
10/24/2016 08:51:46 pm
1. A valuable consideration is a consideration that is legal under the law. It is a detriment incurred by a party in exchange for another promise.
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Anita Baker
10/30/2016 09:09:16 pm
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