Question

What is meant by “legally sufficient” consideration for a contract? Can you think of an example of when consideration would not be legally sufficient?

Answer 1

When we talk of "legally sufficient" consideration, it actually means that the consideration for a contract has both two satisfying realms which are;

One, valid promise by a party to the contract to do something which has no legal requirement for them to do to the other party.

Two, a promise within the precincts that a party to the contract is refraining from undertaking an action that the law does not require them to do.

Three, a promise that a party to the contract makes for certain action that they would not have otherwise been under the obligation to doing.

Explanation:

Second part of the question.

An example of when a consideration would not be legally sufficient is the example of when a party to the contract is promising to do what they are actually required to do in their capacities as the bonafide holders of the responsibilities. For example, a parent who has a child who makes a promise to the child that they will pay for their school fees once the child starts their education, this parent would not be making a legally sufficient because it is the responsibility of the parent to take the child to school and pay for the child's education when the child is under their care.

So, under this event of this parent, there would be no legally sufficient consideration because for a parent, there is an obligation and the obligation to pay for the child's school fees is legally defined and bounded.