In return for services Charles performed for Richard in the past,Richard promises to pay Charles $1,000.There is no consideration for Richard's promise.

Question

Quizplus · Accepted Answer

Past consideration is not consideration at all.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.

In Return for Services Charles Performed for Richard in the Past,Richard