Mutual Consideration

Mutual Consideration

This is going to be the second of a four part post series on the foundations of basic contracts.

What is a Contract?

In its most simple state, a contract is nothing more than an agreement between the parties involved in that agreement that something(s) will be done or not done. This agreement can be formed in many ways but all contracts are either formal or informal in their creation and execution. There are normally, and for our examples in this series, four foundational elements that need to be in-place for a formal contract to be established.

1. Full disclosure
2. Mutual consideration
3. Terms and conditions
4. Evidence of intent 

Thomas Adams
Thomas is the founder of Debt Out Of Here. After working for many years in business and finance Thomas became involved in a legal battle over a small amount of money that was claimed he owed. After investing thousands of dollars and hundreds of hours in the case he realised that banking, debt collection and insurance etc was just a bluff. Since then he has helped thousands of people beat unfair debt collection and offered resources and information to those willing to learn.

  • Latest Activity

  • Forums

  • Newsletter

    We can only give general information as to our material being of any potential benefit to you or not. Members should use the Forums or submit a Private Ticket for case support.
    Thank You. We will contact you as soon as possible.
    The Beating Banks & Debt Collectors Guide
    Get your preview copy of The Beating Banks & Debt Collectors Guide along with the Top 5 Secrets debt collectors don't want you to know!
    Updated 2016 Edition
    THANK YOU.. you will receive your 1st email very soon!
    Condition of Site Use
    No Legal or Financial Advice Is To Be Assumed Given or Offered From This Site
    I Agree To This?