Principle

CONTRACT LAW — Consideration — Adequacy of Consideration — Inadequacy Not a Ground to Avoid Contract

Area of law
CONTRACT LAW
Court
Supreme Court

The adequacy of consideration is not a ground to avoid a contract. The law does not inquire into whether the consideration is sufficient, only whether it exists. Gross inadequacy may indicate fraud, but mere inadequacy is insufficient. The principle is based on freedom of contract.…

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