Mr.Blue gave Mr.Green $1000 to help his family out.Later Mr.Blue entered into a sales contract with Mr.Green and wanted the consideration to be in part the $1000.What is the term for the $1000?

Question

Quizplus · Accepted Answer

Past consideration is an act or other benefit given in the past that was not given in exchange for the promise in question.Because the past act was not given in exchange for the present promise,it cannot be consideration.

MrBlue Gave Mr