Robert Peterson, Attorney at Law

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Monday 09:00 AM - 04:30 PM Tuesday 09:00 AM - 04:30 PM Wednesday 09:00 AM - 04:30 PM Thursday 09:00 AM - 04:30 PM Friday 09:00 AM - 04:30 PM

Phone: 877-721-0903

Fax: Fax: 712-792-4124 Email Us

Robert Peterson, Attorney at Law 108 West 8th Street P.O. Box 1144 Carroll, IA Carroll Co. 51401 (Carroll Co.)View Map

Independent Consideration Required for Contract Modification [2009-12-28]

In Margeson v. Artis, the Iowa Supreme Court on December 18, 2009, decided that independent consideration was required for a contract modification. No consideration exists when the promisee has a preexisting duty to perform because a promisor is already entitled to receive the promise made by the promisee and the promisee has only made what amounts to a gratuitous promise as stated in Recker v. Gustafson, 279 N.W.2d 744, 758 (Iowa 1979).

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