One of the mysteries of the English language finally explained.
Legal consideration having some economic value, which is necessary for a contract to be enforceable.
- ‘Two farmers who had been neighbours for many years, and who lived upon very friendly terms, mutually agreed that whichever died first should leave the other a valuable consideration, not specifying, however, what it was to be.’
- ‘Accordingly, a grantee who takes the lease for valuable consideration takes it as if he were buying a registered estate, and in consequence is not bound by any minor interest which is not protected on the register.’
- ‘It follows that a debt may only be released by an agreement for valuable consideration or by an agreement under seal.’
- ‘What happens, however, when the settlor promises to settle funds on trust, but does not convey the property to trustees, and the beneficiaries have not given valuable consideration?’
- ‘There is no valuable consideration passing from the trustee to the contributor.’
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