what is meant by past consideration in contract law
Consideration in English law A promise cannot be based upon consideration that was said, given or done before the promise was performed. Something said afterwards, will not count as consideration. For example, if X promises to reward Y for an act that Y had already performed then while the performance of that act is good consideration, for the promise to be rewarded for it is past consideration and therefore not good consideration.
Economic nationalism While the coining of the term "
Insurance Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Common law The doctrine of precedent developed during the 12th and 13th centuries,[73] as the collective judicial decisions that were based in tradition, custom and precedent.[74]