past consideration

An act done or a promise given by a promisee before making a promise sought to be enforced.

• Past consideration is not consideration for the new promise because it has not been given in exchange for this promise (although exceptions exist for new promises to pay debts barred by limitations or debts discharged in bankruptcy). See PREEXISTING-DUTY RULE. Cf. future consideration. [Cases: Contracts 79. C.J.S. Contracts §§ 125–126, 128–130.]

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词条贡献者

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