NOW, THEREFORE, in consideration of the premises and the mutual covenants set forth herein and for other good and valuable consideration,
FOR OTHER GOOD AND VALUABLE CONSIDERATION. the receipt and sufficiency of which is hereby acknowledged by each of the parties hereto, each of
Good and Valuable Consideration. Executive acknowledges that the payments identified on Exhibit A hereto as being in respect of Executives releases, waivers
Definition. A benefit conferred or a detriment incurred by a party in exchange for another's promise. Valuable consideration may be non-monetary as long as it is of some value to one or both parties. Also called good and valuable consideration and legal consideration.
A representative, if relatively full-blown, example of a lead-in containing a recital of consideration is as follows: NOW, THEREFORE, in consideration of the premises and the mutual covenants set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Many contracts provide a recital (a statement at the beginning of the contract) that the contract is being entered into "for good and valuable consideration, the
The good news is that the “NOW, THEREFORE, for and in consideration” clause is not one of these landmines. To understand why it is there,
Consideration means something of value, which under English law does not have to be money, and does not have to be “sufficient”, ie market value. For example, in a 2-way confidentiality agreement, both parties may agree to disclose information to the other and consideration may be easily found in this situation.
Overview. A Consideration clause specifies the value given in return for a bargain. Consideration is required for each party benefiting from, and
Definition of Valuable Consideration in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is Valuable Consideration? Meaning of