A discussion of the doctrine of consideration

Doctrine of consideration as defined by sir frederick pollock, consideration is an act or forbearance of one party, or the promise thereof, is the price for which the promise of the other is bought, and the promise thus given for value is enforceable consideration is crucial in all contracts, and only with its presence will an. Although we will focus on the restatement (second)'s formulation of the consideration doctrine, you should also be aware that many older decisions instead analyze consideration as a benefit to the promisor or a detriment to the promisee in our discussion of hamer v sidway, we will try to reconcile these two distinct ways. I shall not discuss, except occasionally for illustrative purposes, the numerous cases in which courts recite the necessity of consideration and go on to find the requirements of the doctrine satisfied 14 some might object that the number of cases in which the doctrine of consideration is used as a gatekeeper. The doctrine that a consideration is necessary if a contract is to be enforceable has a number of functions in the law of contracts in addition to providing evidence that a contract exists, consideration also has the cautionary function of guarding the promisor against ill-considered action the deterrent function of discouraging. In common law it is a prerequisite that both parties offer consideration before a contract can be thought of as binding the doctrine of consideration is irrelevant in many jurisdictions, although contemporary commercial litigant relations have held the relationship between a promise and a deed is a reflection of the nature of. Discussion meet on contract law in india nainital 1968 ihe doctrine of consideration by va ramateke the doctrine of consideration as it is known in english lav dates from the middle of the fifteenth century but the roots of this doctrine are to be traced in the remote past the history of the development of. The place of the doctrine of consideration in modern-day contract law introduction the common law, as wright deliberates, has long upheld the requirement of. The doctrine of consideration, the law is still far from clear upon the subject tion of consideration as the view comes from an authoritative source it is deserving of careful examination we are not here concerned with the origin of the doctrine the question of impor- for a discussion of this question see 8 ha1{v l rev.

a discussion of the doctrine of consideration 1 lord wright “ought the doctrine of consideration to be abolished from the common law ” (1936) 49 harv 4 english law revision committee, the statute of frauds and the doctrine of consideration (cmd5449, 1937) at the preceding discussion has shown that contract cannot be justified solely on the basis of the.

Contend that the doctrine of consideration is subjective and tautological1 and none of these latter contentions are verifiably wrong what is absolutely and irrefutably true is that consideration, however defined, is a requirement for enforceable contracts2 that requirement is 1 for further discussion of this issue , see infra. Sistent with the 'pure' doctrine of consideration, though he will also admit that they are due to the desire of the judges to do justice in the particular circumstances of the case as will be apparent from the above discussion, there has gradu ally been a hardening of the attitude of the english common lawyer to the whole notion. This article will discuss one aspect of contracts law- consideration-in light of biblical criteria such a move requires some preliminary groundwork application of biblical teachings requires more than citing a series of proof-texts and application of biblical doctrine includes more than the bible5 i will thus begin by describing. That the core of the consideration doctrine and the assumpsit action gener- 13 how a requirement besides promise and breach first came into the law of assumpsit is best explained in lbbetson, supra note 6 john h baker, the legal profession and the common law 369-74 (1986) other helpful discussion is.

Consideration requirement for modifications be abolished and that the normal rules of contract as well as the vitiating doctrines, particularly economic duress, act as safeguards this suggestion for reform is intended to reemphasise the overarching theme of the thesis: that the practical benefit principle was a poor solution to. Emily m weitzenboeck, 2012 norwegian research center for computers & law english law of contract: consideration emily m weitzenböck february 2012 of contract (promise only becomes binding when consideration has actually been executed consideration for one's susequent promise to pay (a doctrine that. Frustration and supervening impossibility / the doctrines of consideration and promissary estoppel - jenny walther - term paper - business economics - law - publish your bachelor's or master's thesis, dissertation, term paper however, since it happens very seldom this special situation is usually ignored in discussions. Posts about doctrine of consideration written by mcbridesguides.

An estoppel gives (at least limited) effect to a promise that would otherwise be unenforceable, thus the effect of an estoppel may be to supplement, or even supplant, the doctrine of consideration the chapter concludes with a brief discussion of the future of the doctrine of consideration and, in particular, draws on the critique. Consideration there each promise is the consideration for the other let us consider only the common unilateral contract-a promise for an act-because that is where the difficulties arise doctrine'of consideration, we are tending to regard any act done now under discussion promises may give rise to a different equity.

A discussion of the doctrine of consideration

Consideration is a complex requirement containing many rules and qualifications in addition, the doctrine of promissory estoppel now operates to permit the enforcement of agreements even absent the existence of valid consideration click here for a detailed discussion of consideration, including relevant case law.

Ing16 as the following discussion demonstrates, a writing requirement would be preferable to the consideration doctrine in terms of the for- mal arguments typically offered to support it 1 the evidentiary rationale many formal theorists maintain that the consideration require- ment is necessary to preserve evidence of a. Enforcement to (most) contracts-an argument fried makes forcefully throughout contract as promise' 7 from the start, contract as promise notes the gaps between the promissory principle and (american) contract law after a long critique of consideration doctrine, noting its internal inconsistencies and its poor functional fit. The doctrine of consideration an outline of the rules relating to past consideration, existing duties, sufficiency and adequacy and part payment of a debt contains links to case summaries and law reports. Following this, i submit that there are further doctrines which may offer an alternative to consideration examples of these doctrines include the doctrine of trust and also the doctrine of privity however, since promissory estoppel is the main issue here, further discussions on these alternatives will therefore be irrelevant.

'promissory estoppel is a necessary supplement to the doctrine of consideration, because it enables courts to enforce promises that have been relied upon even though the promise was not part of an exchange' discuss promissory estoppel is of a different nature from the doctrine of consideration some may contend that it. Promise rule or the requirement of a consideration i wish only to ex- plicate the relationship between the mutual promise rule and the mu- tuality of obligation doctrine second, the paper does not discuss the illusory promise rule some contract law scholars would have lawyers refrain from calling an illu- sory promise a. Recommended citation james d gordon iii, dialogue about the doctrine of consideration , 75 cornell l rev 2 and no wonder consideration is to contract law as elvis is to rock-and-roll: the king for discussion ofspondeo under the doctrine ofstipulatio, see adolf berger, encyclo- pedic dictionary of roman law,.

a discussion of the doctrine of consideration 1 lord wright “ought the doctrine of consideration to be abolished from the common law ” (1936) 49 harv 4 english law revision committee, the statute of frauds and the doctrine of consideration (cmd5449, 1937) at the preceding discussion has shown that contract cannot be justified solely on the basis of the. a discussion of the doctrine of consideration 1 lord wright “ought the doctrine of consideration to be abolished from the common law ” (1936) 49 harv 4 english law revision committee, the statute of frauds and the doctrine of consideration (cmd5449, 1937) at the preceding discussion has shown that contract cannot be justified solely on the basis of the.
A discussion of the doctrine of consideration
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