Considerations are distinguished into “good” and “valuable.” A good consideration is such as is founded on natural duty and affection or on a strong moral obligation. A valuable consideration is founded on money or something convertible into money or having a value in money, except marriage, which is a valuable consideration.
History. Orig. Code 1863, § 2705; Code 1868, § 2699; Code 1873, § 2741; Code 1882, § 2741; Civil Code 1895, § 3658; Civil Code 1910, § 4243; Code 1933, § 20-303.
Cross references.
Additional provisions relating to marriage as valuable consideration, § 19-3-60 .
Law reviews.
For comment on property interest of inventor as valuable consideration, in light of Alexis, Inc. v. Werbell, 209 Ga. 665 , 75 S.E.2d 168 (1953), see 5 Mercer L. Rev. 208 (1953).
For article discussing the anachronistic nature of the Georgia contracts Code as dramatized by comparing the doctrine of consideration as it is formulated in the Restatements of Contracts and in Code 1933, Title 20 (now this title), and the interpretative approach Georgia courts have taken in dealing with such Code, see 13 Ga. L. Rev. 499 (1979). (But see amendments by Ga. L. 1981, p. 876.)
Structure Georgia Code
Chapter 3 - Elements and Formation Generally
§ 13-3-40. Necessity for Consideration; Presumption of Consideration
§ 13-3-41. Types of Consideration
§ 13-3-43. Effect of Satisfying Requirement of Consideration
§ 13-3-45. Effect of Partially Valid Consideration; Effect of Illegal Consideration
§ 13-3-46. Effect of Inadequacy of Consideration
§ 13-3-47. Effect of Impossible and Possible but Improbable Consideration