Past consideration is not sufficient consideration for a new promise.

Question

Quizplus · Accepted Answer

Past consideration refers to something that has already been done before the promise was made. This is not considered as valid consideration for a new promise because there was no intention to enter into a contract at the time the original act was performed. Therefore, a new promise must be made with fresh consideration that is given at the time the promise is made.

Past Consideration Is Not Sufficient Consideration for a New Promise