What is 'Consideration' in Contract Law?

Let's talk about the weird little doctrine of consideration, which forces us to make agreements that benefit each other.

Note: in practice, the doctrine operates weirdly, but stay tuned for the case summary of Williams v Roffey Brothers for more! ^^

~

[blakebailey]

Thank you. Law school tries to "hide the ball." This is the first time I've gotten a straight forward explanation of the concept of consideration.

[jackyvera]

thank you so much! I loved the way you explained everything! I'm so surprised you don't have more followers!

[tylerfields]

Studying business law for CPA exam and this was super helpful.. thank you!!

[LenaAudrey]

Extremely thoughtful of you to add the case law studies 👏🏽

[otavioferreira]

Sou um estudante de direito da ufmg, no Brasil. Muito obrigado por explicar contract law de modo que até uma criança entenda. Eu estava precisando exatamente disso.

[pggles]

Woooow your videos are so well produced and easy to understand! thank you!!

[lonniedunn]

This was very helpful and I enjoyed the drawings as well

[kolehollis]

What if it's a promise in exchange for a promise? There is no direct exchange of money involved but let's say you are promising to do something and the other party is making a promise to do something as well?

[heheguysharme]

Super animation and drawings are very good Thank you, keep it up

[teresawong]

hi, may I know what if the party A agrees to transfer party B money, and party B said she will deliver the cake for party A once she make the payment. Then party A transfer party B money for the cake, and in this consideration what's case study that we can write about?

[kumardorainaidu]

Hi bro why deed convey has less than $500 which means explain

[johnfranco]

What if you agree to the varation of the contract??

[ralmustafa]

Please make notes of the information conveyed in the video

[RlyehIsRisen]

What about in photography on property release forms?, what do I put down for Valuable Consideration?. I sell stock photography.

[nowaytony]

Wanna ask whos the third party benefited from the marriage case. Anyone knows it?@@

[Deeebz_]

Chukwudi, a final year law student began selling his properties
in January 2015 in the excitement
of leaving school. He sold his HP
Laptop computer to Emeka for N80,
000 . Emeka paid N50, 000 instantly
and promised to pay the balance N30,
000 in April 2015. Early in March
2015, Chukwudi damaged his friend’
s car and could not raise money to
effect the repairs. He went to Emeke
with a promise that if Emeka could
pay N15, 000 before mid-March he
would forfeit the balance. Emeka
paid promptly. Now Chukwudi is in
need of money to travel home and
he is pestering Emeka for the balance of N15, 000 . You are representing Emeka in the LAWSA Jural
Court where the case is being heard.
State the position of the law and
write out your argument on his
behalf.