Copyright © 1997, 2001 Jay M. Tyndall (Unless Indicated Otherwise)
United States Intellectual Property Law Overview
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Consideration - The bargained for mutual exchange of promises to perform which is the subject of a valid contractual agreementNote: An agreement will have no consideration and, thus, fail, if the promised performance is something gratuitous, something already owed, something already done in the past, a mere moral obligation, or something unsolicited. In this sense, it is said that the promise must be made to the promisor's "detriment".
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