Arthur contracts to sell Ben his house for $100,000.Later the parties modify the contract by changing the price to $110,000.All other terms remain the same.Why is there no consideration for the second agreement? State two ways in which the parties can circumvent this problem.

There is no consideration because Arthur is not giving Ben any legal value for Ben's promise to pay Arthur $110,000.Instead,Arthur is merely promising to perform a preexisting contractual obligation.One way to avoid this problem is for the parties to mutually agree to terminate the first contract before making the new contract.The second is for Arthur to promise to give Ben something additional,however slight,in the second contract.Since the law does not inquire into the adequacy of consideration,this something additional (however slight)will be legal value.