Contracts: Consideration

11/28/17 • 7 min

1 Listener

This episode reviews the common law consideration. The episode discusses the rules and relevant case law necessary to understand consideration and ends with an analytical framework and strategy for discussing consideration on a law school exam.
Key Takeaways:

Consideration is giving up something of value in exchange for a promise.
One form of consideration if giving up something you are not legally to give up, e.g. giving up alcohol if you are over 21.
Consideration is required (along with offer and acceptance) to create a legally binding contract.
Past acts can't support consideration.

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Consideration is giving up something of value in exchange for a promise.
One form of consideration if giving up something you are not legally to give up, e.g. giving up alcohol if you are over 21.
Consideration is required (along with offer and acceptance) to create a legally binding contract.
Past acts can't support consideration.

Next Episode

The Erie Doctrine

In this episode, we discuss the Erie Doctrine with Michael Mushlin, Professor of Law at the Elisabeth Haub School of Law. Professor Mushlin walks us through "the house of Erie" and explains the steps in analyzing an Erie Problem that students might see in an exam. It's a fun conversation that helps you understand and appreciate Erie in a way you probably hadn't before.
About our Guest:
Professor Michael B. Mushlin teaches Civil Procedure, Evidence, and Prisoners' Rights at the Elisabeth Haub School of Law at Pace University. He is the author of book chapters and articles on a variety of subjects involving evidence, federal jurisdiction, civil procedure, children's rights, and prisoners' rights that have appeared in journals such as the Yale Law and Policy Review, UCLA Law Review, Harvard Civil Rights Civil Liberties Law Review, The Journal of Legal Education, and the Brooklyn Law Review. He also is the author of RIGHTS OF PRISONERS (4th ed West) a four volume comprehensive treatise on the law regarding prisoners' rights and NEW YORK EVIDENCE WITH OBJECTIONS (4th ed National Institute of Trial Advocacy 2013) (with Jo Ann Harris). You can read more about Professor Mushlin here.

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