Contract: Consideration
Introduction to Business Law - A podcast by Dr Lola Akin Ojelabi
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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.
