Exam 2017, questions and answers - Contract law LA1040.

Consideration, in contract law, an inducement given to enter into a contract that is sufficient to render the promise enforceable in the courts. The technical requirement is either a detriment incurred by the person making the promise or a benefit received by the other person. Thus, the person.

Question: (LLB Contract Law 1st Year 75%) To what extent does the law provide sufficient protection for those who enter into a contract with a person who, through age, mental illness or intoxication, may be said to lack the capacity to make a binding agreement? Answer: This essay addresses the issue of capacity as one factor that must.

In English Contract Law, a contract is based on an exchange of promises—and in order for a promise to be enforceable, it must hold consideration. Consideration is thus something of value that is given by both parties to a contract that induces them into the agreement to exchange mutual performance.

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Consideration Quiz - Contract Law Revision -How well do you know the rules of consideration in contract law? Do you know the relevance of past consideration and existing duty? What is the relevance of Pinnel's case in relation to consideration. Do you know the difference between executed and executory consideration? Do chocolate bar wrappers constitute valid consideration in contract law.

For a long time consideration has been the instrument used in English contract law to differentiate between enforceable and unenforceable contracts. However recently the legitimacy and applicability of consideration has been questioned, which has led some to suggest it should be abolished. This essay will seek to explore the functions currently.

In contract law consideration is concerned with the bargain of the contract. A contract is based on an exchange of promises. Each party to a contract must be both a promisor and a promisee.They must each receive a benefit and each suffer a detriment.This benefit or detriment is referred to as consideration.

Consideration in contract law is simply the exchange of one thing of value for another. It is one of the six elements that must be present for a contract to be enforceable. Consideration must be.

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Essay Paper on the Doctrine of Consideration What Is the Significance of the Doctrine of Consideration in the Law of Contracts Generally, a contract is considered to be an exchange of promises or an agreement between parties which legally binds these parties and that can be enforced by the law.

Consideration is an essential part of most contracts. It is what each party brings to contract. A valuable consideration in the sense of the law may consist either in some right, interest, and profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other. 'From Currie.