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Compare The Two Elements Of Legally Sufficient Value And Bargain-For-Exchange

Satisfactory Essays
The two elements that make up adequate consideration are legally sufficient value and bargain-for-exchange. Legal value is when something valuable must be given to the person that performed a performance and example of this would be if someone offered me two hundred dollars to fix their car. Bargained-for-exchange is an example of this is if I mow my lawn and my land lords lawn very often then we could agree on that I don’t have to pay for rent for that month. There are exceptions to consideration requirements. The first exception is promissory estoppel. Which is when a person that has “substantially relied on the promise of another may be able to obtain some measure of recovery” (Miller, 258). The second execution is when someone promises
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