Legal Memorandum: Necessary Elements of a Valid Contract

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
Jurisdiction: Alabama
Cited Cases: None
Cited Statutes: None
Date: 08/01/2000

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).


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