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Simple English definitions for legal terms

concurrent consideration

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A quick definition of concurrent consideration:

Concurrent consideration is something that is given or promised by one person to another at the same time as other consideration, or where the promises are made simultaneously. It is a necessary element for an agreement to be enforceable. Consideration can be an act, a forbearance, or a return promise that motivates a person to engage in a legal act. It can be something of value given or promised by one party in exchange for the promise of the other. Consideration can be fair and reasonable under the circumstances of the agreement, or it can be grossly inadequate or illegal. Past consideration, or something given, done, or suffered in the past which purportedly supports a subsequent promise, is not considered valid consideration. The process by which a deliberative assembly disposes of a motion is also called consideration.

A more thorough explanation:

Definition: Concurrent consideration is a type of consideration that arises at the same time as other consideration or where the promises are simultaneous. Consideration refers to something (such as an act, a forbearance, or a return promise) that is bargained for and received by a promisor from a promisee, and which motivates a person to engage in a legal act. It is necessary for an agreement to be enforceable.

Example: A agrees to sell his car to B for $10,000, and B agrees to pay the amount. Here, the consideration is concurrent because both parties are making promises at the same time. A is promising to sell the car, and B is promising to pay the amount.

Explanation: In this example, A and B are exchanging promises at the same time, and both promises are the consideration for the agreement. A's promise to sell the car is the consideration for B's promise to pay the amount, and vice versa. This type of consideration is common in contracts where both parties are making promises to each other.

concurrent cause | concurrent covenant

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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