Failure Of Consideration Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Failure Of Consideration, written in plain English, along with examples of how it is used.

What is Failure Of Consideration?

n. The stoppage of goods or services delivery when promised in a contract. Failure of consideration is justified when goods that a party bargained for are no longer valuable or are damaged. The recipient can withhold payment, demand performance or take legal action.