1) According to the theory of well-being, there is only a reasonable consideration if a promise is made in the benefit of the promise or at the expense of the promise that prompts the promise of something else for the beneficiary of the promise. For example, promises that are not pure gifts are not considered enforceable, as the personal satisfaction that the donor can obtain from the promise by the act of generosity is generally not considered a sufficient inconvenience to obtain adequate consideration. 2) Under the idea of a good deal for exchange, there is appropriate thinking when a promisor makes a promise in exchange for something else. Here is the essential condition that the promisor was given something specifically to induce the promise made. In other words, the theory of good deal for exchange differs from the theory of damage-benefit by the fact that the centre of gravity of the theory of the exchange of parties seems to be the reason for making the promises and subjective mutual consent of the parties, while the emphasis on damage-benefit theory seems to be an objective legal disadvantage or an advantage for the parties. The contract was also conditional on the fact that if the state does not provide work within six months, the contract will be terminated and M must return the amount of the scholarship. The reduction implies the recognition of less exposure than the agreement has actually committed to do. Under Area 63, an assembly may pay or pass on all or part of the guarantee granted to it. It may also extend the execution time or recognize any benefit it deems appropriate. Another example is counter-benefit, a gift in which the donor receives a commercial value in exchange for the subsidy he has given to a business or institution. Like when someone donates $50 to a foundation and the foundation offers the donor a pen with engraved marks worth $5 as a sign of esteem.
Reciprocal agreements have different legal concepts. They are sometimes called reciprocal contracts or mutual consents. However, in certain circumstances, certain commitments that are not considered contracts may be applied to a limited extent. If one party relied on the other party`s assurances/promises to its detriment, the court may apply a just doctrine of Promissory Estoppel to compensate the non-injurious party to compensate the party for the amount it received from the appropriate appeal of the party to the agreement. In the financial financecorporate certificate, we offer several Corporate Finance certifications for careers in investment banking, Equity Research, FP-A, accounting via our online course offer.