Lawful Consideration Sample Clauses
The Lawful Consideration clause establishes that any promise or agreement within a contract must be supported by something of value that is legal and not prohibited by law. In practice, this means that the consideration exchanged—such as money, services, or goods—must not involve illegal activities or contravene public policy. This clause ensures that the contract is enforceable by law, as agreements based on unlawful consideration are void and cannot be upheld in court, thereby protecting the integrity and legality of contractual relationships.
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Lawful Consideration. An agreement is legally enforceable only when each of the parties thereto gives something and gets ▇▇▇.▇▇▇▇▇▇.▇▇ something, that is, consideration. Consideration may be past, present or future, but it must be ‘lawful’, that is, it must not be illegal or fraudulent or immoral or opposed to public policy, or must not imply injury to the person or property of another.
Lawful Consideration. As per Section 2(d), when at the desire of the promissor, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing something, such act or abstinence or promise is called consideration for the promise.” Consideration should not be unlawful, immoral and against public policy.
Lawful Consideration. Subject to certain exceptions, an agreement is legally enforceable only when each of the parties to it gives something and gets something. An agreement to do something for nothing is usually not enforceable by law. The something given or obtained is called consideration. The consideration may be an act (doing something) or forbearance (not doing something) or a promise to do or not to do something. Consideration may be past (something already done or not done). It may also be present or future. But only those considerations are valid which are “lawful”.
Lawful Consideration. An agreement to be enforceable by law must be supported by consideration.
Lawful Consideration. In other words any contract which is violative of any other law or considerations which not legal will not be valid and will be void.