Examlex
Neuroethologists who study rat play behavior categorize it using these three terms.
Existing Contract
A legal agreement that is currently in place and governs a relationship between parties at the present time.
Past Consideration
Something of value that has been given or promised in the past and cannot serve as consideration for a current contract due to its occurrence before the contract was made.
Present Promise
A vow or commitment to take action or uphold terms at the current time.
Moral Obligation
A duty or responsibility that is perceived as ethically required, even though it is not legally enforceable.
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