Adequacy of Consideration | Contract Law | Formation | Contractual vs Gratuitous Promises

Back for another lesson! This lesson covers the doctrine of adequacy of consideration. The doctrine addresses whether the law cares about the relative values of the things being exchanged by the parties. In other words, do we ever find that a promise isn't supported by consideration because whatever is being given in exchange isn't valuable enough? The short answer is generally no. Of course, the law is never that simple. Be sure to watch the lesson to find out the details! Chapters 00:00 - Introduction 00:14 - Review - Promises and Consideration Basics 05:22 - Review - Conditional Gifts 11:46 - Start of Adequacy of Consideration 11:56 - Adequacy - Equal Exchanges 13:32 - Adequacy - Uneven Exchanges 15:03 - Adequacy - Grossly Inequality 18:04 - Adequacy - Nominal or Sham Consideration 21:38 - Conclusion If you found the lesson helpful, be sure to like and subscribe. More lessons are on the way. FREE! flashcards for this lesson are available at https://docs.google.com/presentation/... To use the flashcards, click the "Slideshow" button in the upper, righthand corner of Google Slides. Thank you for your support!