April 9, 2020 / by Kameron Kramer / Document and Contracts / 0 comments
We all know that business deals involve careful consideration of company finances, risk, and potential gain. But the contracts underlying those deals involve another form of consideration—something that demonstrates each party has a stake in the outcome. In fact, contracts are only legally binding if there is consideration (along with an offer and acceptance, as […]
Read more
Consideration in Contracts
April 9, 2020 / by Kameron Kramer / Document and Contracts / 0 comments
We all know that business deals involve careful consideration of company finances, risk, and potential gain. But the contracts underlying those deals involve another form of consideration—something that demonstrates each party has a stake in the outcome. In fact, contracts are only legally binding if there is consideration (along with an offer and acceptance, as […]
Read more
What is Consideration in Contract Law?
April 23, 2018 / by Larry Donahue / Document and Contracts / 0 comments
In previous blog articles, we talked about Exceptions That Can Void A Contract and How to Get Out of a Contract. Both of these articles touch on a very important aspect of contract law that is often overlooked by small business owners: Consideration. Definition Consideration under contract law is defined as a bargained for exchange […]
Read more