16:06
im ready to cook senior year and then hopefully move to Malibu :)
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LSDefine
Simple English definitions for legal terms
preexisting-duty rule
Read a random definition: tax-anticipation bill
A quick definition of preexisting-duty rule:
The preexisting-duty rule is a legal principle that says if someone promises to do something they are already obligated to do, or promises not to do something they are already obligated not to do, then that promise is not considered valid. This means that the promise cannot be used as a basis for a contract because it does not provide any new benefit or consideration. For example, if a builder agrees to build a house for a certain price but then demands more money halfway through the project, the owner cannot be forced to pay the extra amount because the builder was already obligated to complete the work for the original price.
A more thorough explanation:
The preexisting-duty rule is a legal principle that applies to contracts. It states that if a party is already legally obligated to do something or refrain from doing something, then doing or refraining from that action cannot be considered as consideration for a new promise.
For example, if a builder agrees to construct a building for a specified price but later demands more money to complete the job, the owner's promise to pay the additional amount is not enforceable because the builder is already legally obligated to complete the construction for the agreed-upon price. The builder is not providing any new consideration for the owner's promise.
The preexisting-duty rule ensures that parties cannot use threats or coercion to extract additional benefits from a contract that they are already obligated to fulfill. It promotes fairness and prevents parties from taking advantage of each other.