North Dakota Code 9-05-02 – When legal or moral obligation good consideration
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An existing legal obligation resting upon the promisor, or a moral obligation originating in some benefit conferred upon the promisor or prejudice suffered by the promisee, also is a good consideration for a promise to an extent corresponding with the extent of the obligation, but no further or otherwise.
Terms Used In North Dakota Code 9-05-02
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.