valuable consideration definition

valuable consideration

Consideration founded on an act, benefit, forbearance, interest, promise, right, or good or service that has some economic value. A valid (valuable and legal) consideration is essential to the enforceability of a commercial contract or promise. See also good consideration.

valuable consideration is in the Corporate, Commercial, & General Law subject.

valuable consideration appears in the definitions of the following terms: purchaser in good faith, voluntary, consideration, good consideration, contractual relationship and contract

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