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| the thing of value given up by each party to a contract; bargain for exchange |
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| voluntary transfer of property for no consideration |
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| a detriment is a sacrifice to a party; a party agrees to give up a legal right |
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| the court will not try to second guess the parties as to whether the consideration is adequate |
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| a document by which a person disposes of his property; it takes effect after death |
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| not a real promise; the promisor need not really do anything |
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| equitable release. Where a party relies on the promise of another and the promisor, or whould have known that the person would rely on the promise..the court may enforce the promise in order to be fair. |
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| a claim in which the money amount owed is known |
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| a claim for an underdetermined amount |
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| when one party agrees to make partial payment and the other agrees to accept partial payment in full discharge of his claim. Statute 1-540 |
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