Preexisting Obligation
/ˌpriːɪɡˈzɪstɪŋ ˌɑːblɪˈɡeɪʃən/
Definitions
- (n.) An obligation or duty that existed prior to a new agreement or contract, which cannot constitute valid consideration for the new contract.
The court ruled that the promise was unenforceable because it was based on a preexisting obligation.
Forms
- preexisting obligations
Related terms
Commentary
Important in contract law to determine whether a promise is supported by valid consideration; modifying a preexisting obligation typically requires additional consideration to be enforceable.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.