KFLCC Kingdom Law 2nd Ed.

250

CONSIDERATION

CONSIGNMENT

promisor, is a good consideration for a prom ise. Civ. Code Cal. § 1605. Any act of the plaintiff from which the defendant or a stranger derives a benefit or advantage, or any labor, detriment, or incon venience sustained by the plaintiff, however small, if such act is performed or inconven ience suffered by the plaintiff by the consent, express or implied, of the defendant. 3 Scott, 250. Considerations are classified and defined as follows: They are either express or implied; the former when they are specifically stated in a deed, contract, or other instrument; the lat ter when inferred or supposed by the law from the acts or situation of the parties. They are either executed or executory; the former being acts done or values given be fore or at the time of making the contract; the latter being promises to give or do some thing in future. They are either good or valuable. A good consideration is such as is founded on natural duty and affection, or on a strong moral obli gation. A valuable consideration is founded on money, or something convertible into money, or having a value in money, except marriage, which is a valuable consideration. Code Ga. 1882, § 2741. See Chit Cont. 7. A continuing consideration is one consist ing in acts or performances which must nec essarily extend over a considerable period of time. Concurrent considerations are those which arise at the same time or where the promises are simultaneous. Equitable or moral considerations are de void of efficacy in point of strict law, but are founded upon a moral duty, and may be made the basis of an express promise. A gratuitous consideration is one which is not founded upon any such loss, injury, or inconvenience to the party to whom it moves as to make it valid in law. Past consideration is an act done before the contract is made, and is really by itself no consideration "for a promise. Anson, Cont 82. A nominal consideration is one bearing no relation to the real value of the contract or article, as where a parcel of land is described in a deed as being sold for "one dollar," no actual consideration passing, or the real con sideration being concealed. This term is al so sometimes used as descriptive of an in flated or exaggerated value placed upon prop erty for the purpose of an exchange. Boyd v. Watson, 101 Iowa, 214, 70 N. W. 123. A sufficient consideration is one deemed by the law of sufficient value to support an ordi nary contract between parties, or one suffi cient to support the particular transaction. Golson v. Dunlap, 73 Cal. 157, 14 Pac. 576. For definition of an adequate consideration, see ADEQUATE. A legal consideration is one recognized or permitted by the law as valid and lawful;

as* distinguished from such as are illegal or immoral. The term is also sometimes used as equivalent to "good" or "sufficient" con sideration. See Sampson v. Swift, 11 Vt 315; Albert Lea College v. Brown, 88 Minn. 524, 93 N. W. 672, 60 L. R. A. 870. A pecuniary consideration is a considera tion for an act or forbearance which consists either in money presently passing or in mon ey to be paid in the future, including a prom ise to pay a debt in full which otherwise would be released or diminished by bank ruptcy or insolvency proceedings. See Phelps v. Thomas, 6 Gray (Mass.) 328; In re Ekings (D. C.) 6 Fed. 170. CONSIDERATUM EST PER CURI AM. (It is considered by the court.) The formal and ordinary commencement of a judgment Baker v. State, 3 Ark. 491. CONSIDERATTJR. L. Lat It is con sidered. Held to mean the same with con sideratum est. 2 Strange, 874. To de posit in the custody of a third person a thing belonging to the debtor, for the benefit of the creditor, under the authority of a court of justice. Poth. Obi. pt 3, c. 1, art. 8. In commercial law. To deliver goods to a carrier to be transmitted to a designated factor or agent Powell v. Wallace, 44 Kan. 656, 25 Pac. 42; Sturm v. Boker, 150 U. S. 312, 14 Sup. Ot. 99, 37 L. Ed. 1093; Ide Mfg. Co. v. Sager Mfg. Co., 82 111. App. 685. To deliver or transfer as a charge or trust; to commit, intrust, give in trust; to transfer from oneself to the care of another; to send or transmit goods to a merchant or factor for sale. Gillespie v. Winberg, 4 Daly (N. Y.) 320. CONSIGNATION. In Scotch law. The payment of money into the hands of a third party, when the creditor refuses to accept of it. The person to whom the money is given is termed the "consignatory." Bell. In French law. A deposit which a debtor makes of the thing that he owes into the hands of a third person, and under the au thority of a court of justice. 1 Poth. Obi. 536; Weld v. Hadley, 1 N. H. 304. CONSIGNEE. In mercantile law. One to whom a consignment is made. The per son to whom goods are shipped for sale. Lyon v. Alvord, 18 Conn. 80; Gillespie v. Winberg, 4 Daly (N. Y.) 320; Comm. v. Har ris, 168 Pa. 619, 32 Atl. 92; Railroad Co. v. Freed, 38 Ark. 622> CONSIGNMENT. The act or process of consigning goods; the transportation of goods consigned; an article or collection of goods sent to a factor to be sold; goods or property sent by the aid of a common carrier, from CONSIGN. In the civil law.