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1.0) Introduction
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1.0) Introduction In English law, consideration is one of the characteristic of contract law. Historically, the Statute of Frauds 1677 required that certain classes of contract be evidenced in writing. However, consideration is no longer required for specialty contracts. According to section 1(2) and 1(3) of the Law of Property ( Miscellaneous Provisions Act) 1989, there must be some conduct on the part of the person executing the deed to show he intends to bound by it but later this requirements of seal was abolished by section 1(1)(b) of this Act. A promise made without consideration is generally not enforcable. For example, a saleman promises not to sell a motorcycle over the weekend, but does so. The promise cannot be enforced. If however, the salesman accepts £100 in 'consideration' for the promise, the promise is capable of binding effect and therefore enforcable in court. Thus, estoppel is one of...
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