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Failure Of Consideration

failure of consideration

: the neglect, refusal, or failure of a party to a contract to perform as promised or furnish the consideration promised
;also
: the extinguishment of the consideration or of the worth of the consideration promised


Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.