Question

A promise that is generally not valid consideration and is considered a gratuitous promise, except in cases of moral consideration, is called:_________

Answer 1

A promise that is generally not valid consideration and is considered a gratuitous promise, except in cases of moral consideration, is called Agreements Supported by Past Consideration.

What is the meaning of gratuitous promise?

• A promise made by one party to another, whether inside or outside of the context of a contract, that imposes an obligation on the party but provides no benefits for the party is referred to as a "gratuitous promise" (no consideration).
• According to the Oxford English Dictionary, a promise to pay back someone for a benefit they have gotten after they have received it.

Is a promise that is typically untrue taken into account?

• A guarantee of this nature is often viewed as gratuitous and is not a legitimate consideration.
• Example: Mike promised Joe he would give him two Super Bowl tickets after he finished from college.

Learn more about gratuitous promise

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