Contracts falling under past consideration are unenforceable due to a preexisting consideration.

Question

Quizplus · Accepted Answer

Contracts need to have mutual consideration to be enforceable, meaning that both parties must give something of value. Past consideration, which is something that has already been given or done before the agreement was made, does not count as valid consideration. Therefore, contracts under past consideration are not enforceable.

Contracts Falling Under Past Consideration Are Unenforceable Due to a Preexisting