Search Results for: consideration

The legal enforcement of a promise. Made by words or conduct to the promisee without the consideration of the detriment it may cause.

For counsel given. An annuity pro connilio amounts to a condition, but in a feoffment or lease for life, etc., it is the consideration, and does not amount to a condition ; for the state of the land by the feoffment is executed, aud the grant of the annuity is executory. Plowd. 412.

In consideration of the royal dignity. 1 Bl. Comm. 223.

Under this agreement, the buyer and seller reach a mutual understanding on the fixation of the price for a specific duration. However, in other similar agreement, the fluctuations in price that are outside the bounds are taken into consideration.

The consideration (usually In money) given for the purchase of a thing. It is true that “price” generally means the sum of money which an article is sold for; but this is simply because property is generally soid for money, not because the word has necessarily such a restricted meaning. Among writers on political economy,… Continue Reading PRICE

In English ecclesiastical law. A stipend granted in cathedral churches ; also, hut improperly, a prebendary. A simple prebend is merely a revenue; a prebend with dignity has some jurisdiction attached to it. The term “prebend” is generally confounded with “canonicate;” but there is a difference between them. The former is the stipend granted to… Continue Reading PREBEND

A measured level below which people are considered to be poor. Different factors are taken in to consideration, such as the level of income, lack of food and shelter, etc.

A mercantile instrument in writing, by which one party, in consideration of a premium, engages to indemnify another against a contingent loss, by making him a payment in compensation, whenever the event shall happen by which the loss is to accrue. 2 Steph. Comm. 172. The written instrument in which a contract of insurance is… Continue Reading POLICY OF INSURANCE

Lat In the civil law. Repentance; reconsideration; changing one’s mind; drawing back from an agreement already made, or rescinding It

Such as are either by word of mouth or are committed to writing, but are not under seal. The common law draws only one great line, between things under seal and not under seal. Wharton. Synonyms distinguished. The term “agreement” is often used as synonymous with “contract.” Properly speaking, however, it is a wider term… Continue Reading PAROL AGREEMENTS