🔤 Adequate Consideration ✨
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URDU
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Roman Urdu:
munasib badal, barabar ki qeematai hesiyat
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ENGLISH
📚noun phrase
adequate consideration
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PRONUNCIATION
Standard: /ˈædɪkwət kənˌsɪdəˈreɪʃən/
Phonetic: /ad ih kwut kun sid ur ay shun/
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DEFINITION
in contract law, a price, service, or benefit that is legally sufficient and equal in value to support a valid contract
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EXAMPLE SENTENCES
A contract is legally enforceable when backed by adequate consideration from both sides.
The court determined that nominal payment did not constitute adequate consideration.
In exchange for the property, the buyer offered adequate consideration in cash and stock.
Lawyers verified whether adequate consideration was promised in the agreement.
Without adequate consideration, the agreement might be classified as a mere gift.
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SYNONYMS
fair value sufficient consideration valuable consideration
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ANTONYMS
inadequate consideration nominal consideration
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