A prior act or performance. past consideration do not support a new contract. new consideration must be given. this is referred to as:

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Business

Adrien Church

2 October, 00:33

A prior act or performance. past consideration do not support a new contract. new consideration must be given. this is referred to as:

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Micah Horne · Answer 1

The term that is best described by the statement " do not support a new contract" wherein "new consideration must be given" would be a past consideration. In addition, a past consideration is furthermore defined as an agreement or promise, wherein it will be used as a basis for future agreements.