This article is part of a series which explains legal concepts especially relevant to entrepreneurs in both words and (often funny) pictures. This entry continues a section of that series which focuses on contracts. This particular entry focuses on consideration, a legal term of art which is, nonetheless, the cornerstone of contract law. The article explains what consideration is and presents examples of what can and cannot constitute consideration, and further explains what happens to a contract when consideration does not exist.
- Summary by FizzLaw Team
Read the Article at:
Draw the Law: Consideration is the Cornerstone of Contracts, Part I