Lecture notes
Contract law
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- City University (City)
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L4 ~ Consideration + EnforceabilityWednesday, October 27, 2021 11:35
A promise is only enforceable if:
- it is in a deed. This means it satisfies certain formal
requirements. Set out in the
law of property act 1989
- It says that it’s a deed
- It has to be validly executed.
On the other hand, it can be given in exchange for
consideration.
- A test of enforceability
- A symbol of bargain and reciprocal obligations
- The law does not enforce gratuitous promises.
Consideration definition is: In Currie v Misa 1875:
Justice Luch defines consideration as: Consideration
is some right, interest, profit or benefit to one party
or some forbearance, detriment, loss or
responsibility suffered by the other.
Consideration is basically enforceability. In order to
acquire the right to enforce a promise, something
must be given for the promise.
- A gratuitous promise is not enforceable Justification
for consideration requires:
- Seriousness, justice of exchanges, facilitates
exchanges
- Explains measure of relief
- Marks boundary of appropriate legal involvement
Issues in consideration:
- Past consideration
Re McArdle 1951
Work on the house had been completed before the
agreement had been signed - so was pas
consideration.
The promisee did not have the payment in mind
when she did the work, so she was not entitles to it.
If there had been an understanding that that work
would have been compensated in some way, then
the work would have been considered.
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