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ACKNOWLEDGEMENT AND RELEASE (the Release) For good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned (please print full name of player, entertainer,
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For good and valuable consideraton is a legal term used in contracts to signify that a transaction involves consideration from both parties and is not a gift.
Anyone entering into a contract that involves consideration from both parties may be required to include for good and valuable in the contract.
To fill out for good and valuable in a contract, simply include the phrase 'for good and valuable consideration' followed by a brief description of the consideration exchanged.
The purpose of for good and valuable is to make it clear that a contract involves consideration from both parties, which helps to establish the validity and enforceability of the contract.
The information to be reported on for good and valuable typically includes a description of the consideration exchanged between the parties.
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