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US legal text with unknown form
Thread poster: xxxmarcello73
xxxmarcello73
Italy
Local time: 18:39
English to Italian
+ ...
Sep 9, 2004

Hi everybody!
The following sentence is driving me nuts:
"For good and valuable consideration, receipt of which is hereby acknowledged, you agree to ..."

Is there anybody able to explain the meaning of it?


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Lydia Molea  Identity Verified
Germany
Local time: 18:39
English to German
+ ...
Please post this in KudoZ Sep 9, 2004

either Engl-Engl if you only want an explanation or Engl-Ita for a translation. Good luck!

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Magda Dziadosz  Identity Verified
Poland
Local time: 18:39
Member (2004)
English to Polish
+ ...
Have you tried KudoZ? Sep 9, 2004

To ask for term help select KudoZ from the upper menu, then Ask Question. I'm sure you wil get plenty of responses.

HTh,
Magda


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Elvira Stoianov  Identity Verified
Luxembourg
Local time: 18:39
German to Romanian
+ ...
this has been asked in several languages Sep 9, 2004

try searching the glossary for consideration (or valuable consideration - in case you get too many hits) and do not enter any target language, just the source language.
You'll surely come up with a few hits


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kifriedman  Identity Verified
United States
Local time: 12:39
Member (2004)
Spanish to English
+ ...
"Show Me the Money" Sep 9, 2004

This appears to refer to money. "Consideration" is often a legal code word for money or other valuable used as payment.

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Jorgelina Millán  Identity Verified
Local time: 13:39
English to Spanish
+ ...
"For good and valuable consideration"... Sep 9, 2004

It means that, under the terms of the agreement, YOU undertake to do certain things in exchange for some type of compensation (= "consideration"), whether it be of a monetary of other nature. Additionally, most agreements provide that the written instrument itself (the contract) is deemed to be sufficient "evidence of payment" of the consideration so received in exchange for your performance of your contractual obligations ("receipt of which is hereby acknowleged)".
Now, I have no clue how that translates into Italian, but if I can help with Spanish just let me know!
Goog luck!


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Victor Potapov
Russian Federation
Local time: 19:39
English to Russian
+ ...
My Eng-Eng version below Sep 9, 2004

The meaning is:

"You confirm receipt of a certain thing (or action) that has value TO YOU and in return for this thing (or action) you agree to..."

Legalese, but pretty standard.

The best authority on legalese (to my mind) is Black's Law Dictionary. I do legal translations a lot - this is one of the best resources ever, whether Internet-based or on paper!


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