A promise that is generally not valid consideration and is considered a gratuitous promise, except in cases of moral consideration, is called Agreements Supported by Past Consideration.
What is the meaning of gratuitous promise?
- A promise made by one party to another, whether inside or outside of the context of a contract, that imposes an obligation on the party but provides no benefits for the party is referred to as a "gratuitous promise" (no consideration).
- According to the Oxford English Dictionary, a promise to pay back someone for a benefit they have gotten after they have received it.
Is a promise that is typically untrue taken into account?
- A guarantee of this nature is often viewed as gratuitous and is not a legitimate consideration.
- Example: Mike promised Joe he would give him two Super Bowl tickets after he finished from college.
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