Contract: Consideration
- Author
- Dr Lola Akin Ojelabi
- Published
- Wed 03 Apr 2013
- Episode Link
- http://webstat.latrobe.edu.au/www/marketing/assets/podcasts/subjects/lst2bsl201314.mp3
As an element of a valid contract, consideration requires that something of value be provided in exchange for a promise. The general rule is that s contract will be unenforceable if no consideration is provided. However, a promise not supported by consideration may be enforceable through the application of the doctrine of promissory estoppel.
Copyright 2013 Lola Akin Ojelabi / La Trobe University, all rights reserved. Contact for permissions.
