GA Code § 13-3-40 (2021)
2021 Georgia Code|Title 13 - Contracts|Chapter 3 - Elements and Formation Generally|Article 3 - Consideration|§ 13-3-40. Necessity for Consideration; Presumption of Consideration

  A consideration is essential to a contract which the law will enforce. An executory contract without such consideration is called nudum pactum or a naked promise.   In some cases a consideration is presumed, and an averment to the contrary will not be received.    (Orig. Code 1863, § 2703; Code 1868, § 2697; Code 1873, § 2739; Code 1882, § 2739; Civil Code 1895, § 3656; Civil Code 1910, § 4241; Code 1933, § 20-301.)   Law reviews.   - 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 in 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.) For article surveying developments in Georgia real property law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 219 (1981).   JUDICIAL DECISIONS   ANALYSIS    General Consideration   Application   Contracts Under Seal    OPINIONS OF THE ATTORNEY GENERAL   Authority to contract includes authority to give consideration.   - Since both counties and Department of Human Resources have authority to contract, it is self-evident that they have authority to give consideration for contract since consideration is essential to a contract and a contract without consideration is unenforceable. 1975 Op. Att'y Gen. No. 75-22.   Required waivers by environmental protection division personnel of liability for injuries lack consideration.   - Requiring environmental protection division personnel to sign waivers of liability for injuries to person or property sustained while on premises for purpose of carrying out their duties of inspection constitutes unreasonable restriction on state's police power and any such waiver is not binding on EPD personnel because of lack of valid consideration. 1976 Op. Att'y Gen. No. 76-121.   RESEARCH REFERENCES   Am. Jur. 2d.   - 17 Am. Jur. 2d, Contracts, § 85 et seq.   C.J.S.   - 17 C.J.S., Contracts, § 71.   ALR.    - Effect of recital in option of receipt of consideration which was not paid, 27 A.L.R. 1127.    Early death of vendor as affecting enforcement of contract to convey in consideration of contract for his or her support for life, 49 A.L.R. 601.    Promise to pay another's antecedent debt in consideration of agreement to cancel it as within statute of frauds as a promise to pay debt default or miscarriage of another, 74 A.L.R. 1025.    Original consideration as supporting obligation of accommodation parties who became such after the contract had been delivered and accepted, 74 A.L.R. 1097.    Consideration for assumption of obligation of lease by assignee thereof, 100 A.L.R. 1232.    Consideration for subscription agreements, 115 A.L.R. 589; 151 A.L.R. 1238.    What taxes are within contemplation of contract which provides for payment or assumption of taxes or varies consideration with reference to taxes, 124 A.L.R. 1020; 140 A.L.R. 517.    Creditor's statement or assurance to debtor, not supported by a consideration, that payment need to be made at time due, as binding upon creditor by way of estoppel, 124 A.L.R. 1248.    Promise of additional compensation for completing building or construction contract, 138 A.L.R. 136.    Rights and remedies as to premium where insured was under mistaken belief regarding value, nature, or existence of property subject of insurance, 138 A.L.R. 924.    Forbearance to sue on original obligation as consideration for note payable on demand, 141 A.L.R. 1481.    Promise to pay debt conditioned upon future act of creditor as tolling statute of limitations, 143 A.L.R. 1429.    Consideration for subscription agreements, 151 A.L.R. 1238.    Consideration for assumption of obligation as guarantor, surety, endorser, or indemnitor, after execution and delivery of principal contract, as predicable upon an antecedent promise to assume or furnish such obligation, 167 A.L.R. 1174.   Rights and liabilities as between employer and employee with respect to employee stock options, 96 A.L.R.2d 176.   Validity of individual employment contract for specific term which contains provision that employee will perform if physically able, if health permits, or the like, 7 A.L.R.3d 898.   Waiver of right to widow's allowance by postnuptial agreement, 9 A.L.R.3d 955.   Validity of contract for sale of "good will" of law practice, 79 A.L.R.3d 1243.   Enforceability of voluntary promise of additional compensation because of unforeseen difficulties in performance of existing contract, 85 A.L.R.3d 259.