![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, October 09, 2015 2:34:16 PM
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.
.
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM