Warning
Info
Warning
Info
Simple English definitions for legal terms
meritorious consideration
Read a random definition: episcopalia
A quick definition of meritorious consideration:
Meritorious consideration is something of value that is given or promised by one party in exchange for the promise of the other. It can be an act, a forbearance, or a return promise that motivates a person to engage in a legal act. Meritorious consideration is necessary for an agreement to be enforceable. It is also known as good consideration and is different from nominal consideration, which is so insignificant that it bears no relationship to the value of what is being exchanged.A more thorough explanation:
Definition: Meritorious consideration is a type of consideration that is based on natural love or affection or on moral duty. It is something that motivates a person to do something, especially to engage in a legal act. Meritorious consideration is not valid for the enforcement of a contract, but it is sometimes used to describe good consideration.
Example: A father promises to give his son a car as a gift. The son does not provide any consideration in exchange for the car, but the father's promise is based on natural love and affection for his son. This is an example of meritorious consideration.
Explanation: In this example, the father's promise to give his son a car is not enforceable because there is no consideration provided by the son. However, the promise is based on the father's natural love and affection for his son, which is an example of meritorious consideration. This type of consideration is not legally binding, but it can be used to describe the motivation behind a promise or agreement.