Consideration: The Basics | Bargained for Exchange | Legal Value скачать в хорошем качестве

Consideration: The Basics | Bargained for Exchange | Legal Value

Greetings fellow law nerds! This second contracts lecture introduces the doctrine of consideration. Consideration is one of the three elements needed for the formation of contract: (1) offer, (2) acceptance, and (3) consideration. In the context of contract law, consideration is NOT about mental analysis or high regard. Rather, it refers to the "payment" made in return for a promisor's promise. It will typically be a return promise or return performance. It tells us that the promisor made her promise as part of a trade or deal, such that we would say the promise is contractual or that it is supported by consideration. Chapter 00:00 - Introduction 00:11 - Review of Promises — Contractual vs Gratuitous 09:01 - Chart Showing Path from Promise to Legally Enforceable Contract 10:11 - Consideration Rules 11:22 - Consideration Needed on Both Sides of Contract 12:16 - Bargained for Exchange Needed 12:29 - Consideration Chart, Showing Elements 16:12 - Two Types of Detriments 24:38 - Things Being Exchanged Must Be of Legal Value 29:00 - Rehash of Chart Showing Path from Promise to Legally Enforceable Contract 30:46 - Thanks for Watching / Please Like and Subscribe I appreciate your support! If you found this video helpful, please like and subscribe. More videos are on the way! FREE! flashcards are available at: https://docs.google.com/presentation/... To use the flashcards, click the "Slideshow" button in the upper, righthand corner of Google Slides.