Good consideration usually cannot be based on a pre-existing contractual obligation owed to the same party. Describe
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“Good consideration usually cannot be based on a pre-existing contractual obligation owed to the same party.” Describe three ways by which business people can avoid that rule. What commercial reasons might motivate them to do so?
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That rule is often criticized as failing to reflect commercial reality Financially speaking parties ...View the full answer
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Related Book For
Managing the Law The Legal Aspects of Doing Business
ISBN: 978-0133847154
5th edition
Authors: Mitchell McInnes, Ian R. Kerr, J. Anthony VanDuzer
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