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12-Consideration (Legal Sufficiency (Preexisting Contractual Obligation…

- - - - Get something one had not legal right to before
    - - Doing something not obligated to do
  - - - Obligations contingent on a stated event occuring
  - - - Promise by A, Performance by B
    - - Promise by A, Promise by B
  - - - Output K
        
        sell all productions to a single buyer
      - Requirements Contract
        
        buy all of one's needs from a single producer
      - Exclusive Dealing Contract
        
        franchise/license the sole right to sell goods to a defined market
  - - - UCC
        
        No consideration is required if made in good faith
      - Common Law
        
        Requires mutual consideration
    - - Parties agree to rescind original K to enter to a new one
      - New contract must be supported by consideration
    - - Undisputed
        
        Is not legally sufficient consideration
      - Disputed
        
        Is legally sufficient consideration