Takano-Towa Guam Co., Ltd. v. Mickey S. Cox

41 F.3d 1514 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. TAKANO-TOWA GUAM CO., LTD., Plaintiff-Appellant, v. Mickey S. COX, Defendant-Appellee. No. 93-15875. United States Court of Appeals, Ninth Circuit. Submitted Nov. 1, 1994. * Decided Nov. 10, 1994. Before: BROWNING, TROTT, and KLEINFELD, Circuit Judges. 1 MEMORANDUM ** 2 A contract must be supported by consideration. See 18 G.C.A. Sec. 85102 (1992). Consideration is the product of a bargained-for exchange, Colorado Nat'l Bank of Denver v. Bohm, 286 F.2d 494, 496 (9th Cir.1961), consisting in either a benefit to the promisor or a detriment to the promisee, Twin City Fire Ins. Co. v. Philadelphia Life Ins. Co., 795 F.2d 1417, 1427 (9th Cir.1986). Like other essential elements of a contract, the consideration given in exchange for a promise must be specified with certainty. Cf. Jackson v. Grant, 890 F.2d 118, 120 (9th Cir.1989); Transamerica Equipment Leasing Corp. v. Union Bank, 426 F.2d 273, 274 (9th Cir.1970). For…