Contract: Consideration - Introduction to Business Law

What this episode covers

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.

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Frequently Asked Questions

How long is this episode of Introduction to Business Law?

This episode is 24 minutes long.

When was this Introduction to Business Law episode published?

This episode was published on April 3, 2013.

What is this episode about?

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...

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