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Saturday, May 2, 2020 | History

2 edition of doctrine of consideration in the law of contract found in the catalog.

doctrine of consideration in the law of contract

R. G. Grice

doctrine of consideration in the law of contract

a historical survey of how t arose and an analysis of the desirability of it being retained as an essential element of a simple contract

by R. G. Grice

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Published by Wolverhampton Polytechnic in Wolverhampton .
Written in English


Edition Notes

Thesis (LLB (Hons.)) - Wolverhampton Polytechnic, 1981.

StatementR.G. Grice.
ID Numbers
Open LibraryOL13893263M


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doctrine of consideration in the law of contract by R. G. Grice Download PDF EPUB FB2

Secondly, the doctrine of consideration has since long been established in common law, and is a recognized chapter in all doctrine of consideration in the law of contract book textbooks.

Despite its shortcomings, it simply cannot be replaced outright. Therefore, the doctrine of consideration should undergo certain reforms, but it should not be completely abolished.

Consideration is the benefit that each party gets or expects to get from the contractual deal -- for example, Victoria's Secret gets your money; you get the cashmere robe. In order for consideration to provide a valid basis for a contract -- and remember that every valid contract must have consideration -- each party must make a change in their.

Consideration is the ‘agreed equivalent and inducing cause of the promise (pgcontract law purple book). It is the price for which the promise of the other is bought (law of contract, pg 60). Traditionally, the doctrine of consideration has been defined as either a detriment to the promisee or a benefit to the promisor.

Chen-Wishart: Contract Law 5e Chapter 3: Chapter in essence. To be enforceable in law, an agreement which meets the requirements of contract formation must satisfy one of the criteria of enforceability, namely: consideration, formalities, or promissory estoppel.

Consideration. What is it. Unless a promise is made in a deed, it will not be contractually binding (though it may still give rise to legal consequences under the law on promissory estoppel, or the law of tort, or public law) unless it is supported by is the doctrine of consideration.

Most contract textbooks will trot out the following definition of when a promise will be supported by.