Georgia Code § 13-3-40 - Necessity for Consideration; Presumption of Consideration

(a) A consideration is essential to a contract which the law will enforce. An executory contract without such consideration is called nudum pactum or a naked promise.

(b) In some cases a consideration is presumed, and an averment to the contrary will not be received.

Section: 13-3-40  13-3-41  13-3-42  13-3-43  13-3-44  13-3-45  13-3-46  13-3-47    Next

Last modified: October 14, 2016