Legal consideration having some economic value, which is necessary for a contract to be enforceable.
- Accordingly, a grantee who takes the lease for valuable consideration takes it as if he were buying a registered estate, and in consequence is not bound by any minor interest which is not protected on the register.
- It follows that a debt may only be released by an agreement for valuable consideration or by an agreement under seal.
- There is no valuable consideration passing from the trustee to the contributor.
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