Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

executed consideration

Read a random definition: call option

A quick definition of executed consideration:

Executed consideration is something that has already been given or done in exchange for a promise. It can be an act, a forbearance, or a return promise that motivates a person to engage in a legal act. Consideration is necessary for an agreement to be enforceable. It must be fair and reasonable under the circumstances of the agreement. Past consideration, or something given, done, or suffered in the past which purportedly supports a subsequent promise, is not considered valid consideration. Valuable consideration is something of value given or promised by one party in exchange for the promise of the other. In parliamentary law, consideration is the process by which a deliberative assembly disposes of a motion.

A more thorough explanation:

Executed consideration is a type of consideration in contract law that refers to consideration that has already been given. Consideration is something of value that is exchanged between parties in a contract. It can be an act, a forbearance, or a return promise. Executed consideration is different from executory consideration, which is consideration that is promised to be given in the future.

For example, if John promises to pay Jane $500 for painting his house, and Jane has already completed the painting, then the consideration is executed. The act of painting the house is the consideration that Jane has already given, and the promise to pay $500 is the consideration that John has given.

Another example of executed consideration is when a person pays for a product or service. The payment is the executed consideration, and the product or service is the consideration that the other party has given.

exeat | executed contract

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
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.
LSD+ is ad-free, with DMs, discounts, case briefs & more.