failure of consideration

A seriously deficient contractual performance that causes a contract’s basis or inducement to cease to exist or to become worthless.

• Scholars disapprove of this term as misleading, since failure of performance is more accurate. Unlike consideration, the phrase failure of consideration relates not to the formation of a contract but to its performance. See CONSIDERATION(1). Cf. WANT OF CONSIDERATION. [Cases: Contracts 83, 260, 309(1). C.J.S. Contracts §§ 133, 466, 520–522, 524.]

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词条贡献者

资深译员Walker，毕业于亚洲一流的高级翻译学院，擅长翻译各类与尽职调查相关的法律文件。