Consideration

1. Modern Substitutes for Bargain

1.1. Seal

1.2. Promissory Estoppel

1.2.1. substitute reliance for bargain

1.2.2. requires detrimental reliance

1.2.3. Definition: a promise which the promisor should reasonably expect to induce action is binding if injustice can be avoided only by enforcement

2. Adequacy of Consideration

2.1. Output and Requirements Contracts

2.2. Promises Implied by the Court

2.3. Forbearance from suit

2.4. Voidable and Unenforceable Promises

2.5. Conditional Promises

2.5.1. future event = aleatory promise

2.6. Multiple Exchanges

2.7. Recitals of Consideration

3. Bargained for Legal Detriment

4. Bargain and Exchange

4.1. do something or promise to do something you don't legally have to do

4.1.1. pre-existing duty rule

4.2. Illusory Promises

4.2.1. "if I want to"

4.3. Alternative Promises

4.4. Conditional Gifts

4.5. Nominal Consideration