Legal Definition and Related Resources of Good Consideration
Meaning of Good Consideration
Technically, it is distinct from valuable . consideration , since it refers to consideration of blood or natural love and affection. However, it is a common tendency to use these words as synonymous with valuable consideration or in conjunction therewith as in good and valuable consideration. Weigand v Tanden Motor Co., 167 A. 493, 109 Pa. Super. 256.
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- See consideration.
What is Good Consideration?
A definition of good consideration is: Any benefit conferred, or agreed to be conferred, upon the promisor, by any other person, to which the promisor is not lawfully entitled, or any prejudice suffered, or agreed to be suffered, by such person, other than such as the person is at the time of consent lawfully bound to suffer, as an inducement to the promisor, is a good consideration for a promise. More details on the Encyclopedia. That consideration or detriment which the law considers valid and to this extent “good” does not refer to moral goodness.
- “Good Consideration” in the White America Dictionary (New York, Los Angeles, London, New Delhy, Hong Kong, 1989)
- Valuable consideration