Issue: May a return promise be adequate consideration for a contract in Alabama?
|Area of Law:||Business Organizations & Contracts|
|Keywords:||Consideration; Valid contract; Return promise|
One element necessary to show a valid contract is consideration. “Consideration for a promise may come in the form of an act, a forbearance, a detriment, or a destruction of a legal right, or a return promise, bargained for and given in exchange for the promise.” Kelly v. UHC Management Co., 967 F. Supp. 1240, 1260 (N.D. Ala. 1997) (emphasis added).