Blum Holdings Inc (BLMH)

[mfdesigner]

There is one exception to the requirement of consideration and that is a deed, which is a contract "under seal" or a "specialty contract".

In centuries past, persons contracting would drip a drop of hot wax on the bottom of the contract and press a family ring into the wax, thereby signifying consent to the terms of the document.

Nowadays, deeds are used mostly - if not an outright statutory requirement - in contracts that involve real estate.

In legal theory, if a contract is a deed, then no consideration is required. If charitable donations are made under seal, they are valid contracts even though there is no valid consideration.

Deeds do not always need consideration. What we have here is simply a contract between two parties. This likely a gift from Jesse Haw - a partner in medifarm, and elevated as contract.


.