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Simple English definitions for legal terms

good and valuable consideration

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A quick definition of good and valuable consideration:

Good and valuable consideration is something of value that is given or promised by one party in exchange for the promise of the other party. 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, and it can be either past, present, or future consideration. Consideration can be implied by law from the parties' actions, but it cannot be illegal or immoral. Nominal consideration, which is so insignificant as to bear no relationship to the value of what is being exchanged, can be valid. The process by which a deliberative assembly disposes of a motion is also called consideration.

A more thorough explanation:

Definition: Good and valuable consideration refers to something of value that is given or promised by one party in exchange for the promise of the other party. 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 involve some gain or benefit to the promisor or some loss or disadvantage to the promisee.

Examples: A person promises to sell their car to another person for $10,000. The $10,000 is the consideration for the promise to sell the car. In another example, a person promises to mow their neighbor's lawn every week for a month in exchange for their neighbor's promise to water their plants while they are on vacation. The act of mowing the lawn is the consideration for the promise to water the plants.

Explanation: In both examples, there is an exchange of something of value between the parties. The promise to sell the car is supported by the $10,000 payment, which is a benefit to the seller. The promise to mow the lawn is supported by the promise to water the plants, which is a benefit to the person going on vacation. Both examples illustrate the concept of good and valuable consideration, which is necessary for a contract to be legally enforceable.

good and merchantable abstract of title | good and workmanlike

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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