FWIW, I didn't get "bent out of shape." You literally posted as if you had come up with some genius legal analysis about 30 minutes after I had read the article from which (1) you "obtained" the copy of the GOR, and (2) simply summarized the legal analysis of 1 attorney as if it was your own. You should have just taken the L on that one as I would not have brought it back up until you had to take a dig at me pointing out your ridiculous post. How hard is it to simply attribute the thought to the person who came up with it, and not act like it was your own thinking? Just take the L on that one and move on.
As for your analysis here, it's absurd. The lawyer interviewed is simply pointing out the ways one attacks any contract ... he doesn't say it would be successful. This is boilerplate, Contracts 101. You try to show inadequate consideration, fraud, that the terms are vague and therefore unenforceable, duress, or unequal bargaining position. None of these apply here. First, understand that when the ACC teams signed this GOR, they had just had Maryland leave the conference. Why is that important? Because it means that the GOR wasn't signed covering some theoretical scenario ... it was drafted and signed based on events that had just happened and that all the parties to the GOR wanted to avoid in the future. Every school knew what they were signing and why .... the stability of the conference was desired and they were willing to sign away their media rights to ensure that. They had tons of lawyers look over the agreements, so there is no fraud and everyone was adequately represented and informed of the ramifications of signing the GOR.
As to consideration, I just grabbed the first thing I googled:
What is consideration in a contract?
The legal definition of consideration is based on the concept of a “bargained-for exchange.” This means that both parties are getting something that they’ve agreed to, usually something of value for something of value.
What are the requirements of consideration?
Consideration is an essential part of a valid contract with its own requirements. For consideration, itself, to be valid, each party to the contract typically must do one of the following:
- Make a promise to the other party.
- Perform an act (such as provide a service).
- Agree not to do something.
Each party’s promise, performance, or agreement not to do something is usually in exchange for the other party’s promise, performance, or agreement not to do something.
Whatever it is that a party promises, performs, or agrees not to do must typically have some value that can be recognized by law.
The value does not have to be monetary, or anything that would be recognized as having value by most people. Generally speaking, if a party accepts a promise, performance, or forbears from doing (agrees not to do) something they have a right to do, the promise, performance or forbearance may be found to have some legally-recognized value.
It's crystal clear that there was consideration in that each school promised to the other that they would stay in the conference until 2036 to maintain economic stability of the conference. Parties made promises to one another, and agreed to not do something. The idea there is no economic benefit to this is absurd ... if a team is allowed to leave and go to another conference they will get a ton more money, and the teams left behind will get a ton less money.
Consideration is part of what makes a contract a contract. Find out what it means and why it's important when creating a legal agreement between two parties.
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