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Simple English definitions for legal terms

inadequate consideration

Read a random definition: international law

A quick definition of inadequate consideration:

Inadequate consideration means that something given or promised in exchange for a promise is not fair or reasonable under the circumstances of the agreement. Consideration is something that motivates a person to do something, especially to engage in a legal act. It can be an act, a forbearance, or a return promise. Consideration, or a substitute such as promissory estoppel, is necessary for an agreement to be enforceable. Adequate consideration is consideration that is fair and reasonable under the circumstances of the agreement. Valuable consideration is consideration that is valid under the law and either confers a pecuniarily measurable benefit on one party or imposes a pecuniarily measurable detriment on the other.

A more thorough explanation:

Definition: Inadequate consideration refers to a situation where the value of the consideration exchanged in a contract is not fair or reasonable under the circumstances of the agreement. Consideration is something of value that is bargained for and received by a promisor from a promisee, and it is necessary for an agreement to be enforceable.

Example: A agrees to sell his car to B for $1. This is an example of inadequate consideration because the value of the car is much higher than $1. The transaction may be considered a gift or a fraud, and it may not be enforceable.

Explanation: In this example, the value of the car is not commensurate with the amount of consideration exchanged. The consideration is inadequate because it does not reflect the fair value of the car. As a result, the transaction may not be enforceable, and it may be considered a gift or a fraud. Inadequate consideration can render a contract unenforceable because it suggests that the parties did not enter into the agreement with a meeting of the minds or with the intention to create a legally binding contract.

inactive stock | inadequate remedy at law

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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.
[] 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.
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