Logged out
Access All our Essays in an Instant
Swap your work for FREE access, or pay £4.99 for instant access
Consideration - "There is no real agreement about the true basis of the requirements of consideration for a valid contract; the case law often seems to turn on arbitrary distinctions".
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
Page Preview
On the left is an image preview of every page of this document, and below are the first 150 words with formatting removed:
A D Hudson-Tyreman Grad Dip Law 2003/04 Leeds Metropolitan University Obligations 1: Contract Seminar Session 3 Consideration "There is no real agreement about the true basis of the requirements of consideration for a valid contract; the case law often seems to turn on arbitrary distinctions". The proposition described above questions the validity of the 'doctrine of consideration' and its presence within the law of contract. The doctrine of consideration seems to have developed out of the judiciary's need to differentiate areas of contract law and produce what McKendrick (2000)1 describes as 'the badge of enforceability'. The orthodox interpretation of the doctrine is based upon the idea of 'reciprocity' which suggests that a promisee could enforce a promise only when he has promised to give something in exchange or the promisor has obtained something in return. The classical and much recited definition of consideration can be found in Currie v. Misa2: '...a valuable consideration, in the sense...
To see the full version of this document, and 145,328 others
