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CONSIDERATION 1 (192-)

handle is hein.ali/contract0118 and id is 1 raw text is: CONSIDERATION. 1. A promise not under seal creates no legal ob ligatilon save in exceptional wases hiereaf ter stated, if 0no consideration has been given or received therefor, or even if consideration has been so given if it does not fulfil the following requirements: 'ILLUSTRATIONS: A promissory note made as a gift to tie payee cannot be enforced by him. A written promise recites thit it was nmade 'for $1 and other valuable cofisiderations. The rc- cital does not make the, promise binding. See Treatise, §§ 99-102, 108, 115 b. § 2. The. consideration for a promise may be (a) some act or forbearance to act; and in such a case the consideration is legally sufficient if it in- volves a detriment to'the promisee or a benefit to the promisor; (b) a promise to do or to forbear from doing some act; and in such a case the mutual promises are suf- ficient consideration'for one another if in each prom- ise the act or forbearance undertaken will be, or ap- parently may be, detrimental to the maker of the promise, or beneficial to the promisee. See the illustrations under the following sec- tions. K§ 8. n actor forbearance is a detriment to the person acting or forbearing, as that word is used in /.,defining the sufficigncy of consideration, only if at the time of acting or forbearance he was under no legal -duty so to do; but may be a detriment though it in- volve no pecuniary loss or material disadvantage. Sire-

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