Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of March 28, 2024 | Updated by Findlaw Staff
(a) To constitute consideration, a performance or a return promise must be bargained for by the parties to a contract.
(b) A performance or return promise is bargained for if it is sought by the promisor in exchange for his promise and is given by the promisee in exchange for that promise.
(c) The performance may consist of:
(1) An act other than a promise;
(2) A forbearance; or
(3) The creation, modification, or destruction of a legal relation.
(d) The performance or return promise may be given to the promisor or to some other person. If there is a valid consideration for a promise, it does not matter from whom it moves and it may be given by the promisee or by some other person; the promisee may sustain his action, though a stranger to the consideration.
(e) In mutual subscriptions for a common object, the promise of the others is a good consideration for the promise of each.
Cite this article: FindLaw.com - Georgia Code Title 13. Contracts § 13-3-42 - last updated March 28, 2024 | https://codes.findlaw.com/ga/title-13-contracts/ga-code-sect-13-3-42/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)