Contracts Works

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Author:
Anonymous
ID:
271046
Filename:
Contracts Works
Updated:
2014-04-18 22:02:17
Tags:
Contracts Works
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Description:
Contracts for Works
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  1. Pre-existing Duty Rule
    • Generally, performing a legal duty which is
    • already owed under a contract does not constitute consideration, unless that duty
    • is unclear or honestly disputed. That is, once a party agrees to do something
    • under a contract, that party cannot change the terms without consideration and
    • expect the new terms to be enforceable
  2. Bargain for Exchange
    • A┬ámutual agreement or contract between two parties which is voluntary and
    • involves the exchange of consideration (money, goods, services, or a promise
    • for a promise).
  3. Executory Contract
    Not fully performed on either side

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