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LSDefine
Simple English definitions for legal terms
continuing consideration
Read a random definition: clear-reflection-of-income standard
A quick definition of continuing consideration:
Continuing consideration is something that one person gives or promises to give to another person in exchange for something else. This can be an act, a promise, or something else of value. It is important for an agreement to have consideration in order for it to be enforceable. There are different types of consideration, such as adequate consideration, future consideration, and valuable consideration. In parliamentary law, consideration refers to the process by which a deliberative assembly disposes of a motion. In history, consideration also refers to a court's judgment.A more thorough explanation:
Definition: Continuing consideration is an act or performance that extends over time and is part of a contract. It is something that motivates a person to engage in a legal act, such as an act, a forbearance, or a return promise.
Example: A company hires an employee and agrees to pay them a salary every month. The salary is the continuing consideration in this contract, as it is an act that extends over time and motivates the employee to work for the company.
This example illustrates how continuing consideration is an essential part of a contract. Without it, the contract would not be enforceable. The promise of a salary motivates the employee to work for the company, and the company is obligated to pay the salary as part of the contract.