Failure Of Consideration

Business, Legal & Accounting Glossary

Definition: Failure Of Consideration




What is the dictionary definition of Failure Of Consideration?

Dictionary Definition


n. not delivering goods or services when promised in a contract. When goods a party had bargained for have become damaged or worthless, failure of consideration (to deliver promised goods) makes the expectant recipient justified to withhold payment, demand performance or take legal action.


Cite Term


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Page URL
https://payrollheaven.com/define/failure-of-consideration/
Modern Language Association (MLA):
Failure Of Consideration. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 28, 2021 https://payrollheaven.com/define/failure-of-consideration/.
Chicago Manual of Style (CMS):
Failure Of Consideration. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/failure-of-consideration/ (accessed: September 28, 2021).
American Psychological Association (APA):
Failure Of Consideration. PayrollHeaven.com. Retrieved September 28, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/failure-of-consideration/

Definition Sources


Definitions for Failure Of Consideration are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th April, 2020 | 0 Views.