Of all the topics as discussed in the class, the topic consideration has greatly drawn my interest and I got eager to find the appropriate meaning of Consideration in accordance to the Indian Contact Act (1872). The meaning of the term consideration is defined in Section 2 (d) of the Act is somewhat different from how the word ‘Consideration’ is understood in ordinary parlance. In this response paper, I seek to explore the specific manner in which the Contract Act defines ‘consideration’ and how such a definition fits in with the general scheme of the Contract Act, with the hope of responding to some of the difficulties the definition of consideration raises for contract law. In my opinion, Consideration is the essential element for the formation of contract. As we know that a contract is based on the promise and for there must be two parties to the contract a promisor and a promisee and when both the parties gain something from one and another then the gain or the benefit received by the parties is called consideration. It should be something which has some value in the eyes of law and it is not one sided as there are two parties of the contract so the consideration comes from both the sides and in case, if it's one sided that will be considered as a gift and the law also does not take into account. if something is done in terms of promise, love, affection and this can be seen from the case Currie v. Missa (1875) where one of the judge also gave importance to the interest, profit, benefits arising to the parties. In bilateral type of contract, an agreement contains mutual promises and sufficient consideration of the parties to form a contract. Whereas in unilateral type of contract, an agreement in which one party promises to ot... ... middle of paper ... ... case, a son complained that he receives less property than his brother does. At that time, his father promised him that he would release him from the debt if he would stop complaining. But after his father’s death executors came to recover the debt in consideration for his promise. The executors have found the consideration for no future complaints, for this releasing from the debt is not a good consideration, so son will continue to be liable. The reader can conclude that the consideration is required to enter in the contract. And how ICA laws deals under section 2(d) and 25(2) of ICA for the consideration in the above e.g. of cases. The one of the point which I have tried be concluded for the reader is to make sure consideration must be lawful and real for an agreement, if unlawful than it will be considered void. Thus, Consideration is essential element of ICA.
When past services are rendered with a promise to pay, the court may enforce the promise to pay. However in Dementas’s case, the service was rendered after the promise to pay. The court found that Dementas’s services were rendered with no expectation of payment from Tallas. Moral obligation was created after some courts found the ruling to be too harsh. Even if moral obligation was applied to Dementas’s case, the court found that Dementas performed all services without expecting any payments in
Liability in restitution with disgorgement of profit is an alternative to liability for contract damages measured by injury to the promisee.” (2011)
Andrews N, Strangers to Justice No Longer: The Reversal of the Privity Rule under the Contracts (Rights of Third Parties) Act 1999 (2001) 60 The Cambridge Law Journal 353
The law of contract in many legal systems requires that parties should act in good faith. English law refuses to impose such a general doctrine of good faith in the field of contract law. However, despite not recognizing the principle, English contract law is still influenced by notions of good faith. As Lord Bingham affirmed, the law has developed numerous piecemeal solutions in response to problems of unfairness. This essay will seek to examine the current and future state of good faith in English contract law.
Given that it lies within the domain of equity, the case law indicates a great flexibility in its application, both in the substantive requirements of proof demanded by the courts and in the manner in which the courts will satisfy the equity. It is the first of these aspects of the doctrine that I will examine in this essay. I will look at the shift in the evidentiary requirements and what a representation (or an assurance of rights), a reliance (a change of position on the basis of that assurance) and a detriment (or unconscionable disadvantage) - the three pre-requisites for a successful claim - have come to mean with regard to case law and in particular the judgement of Judge Robert Walker in the Court of Appeal in Gillett v. Holt[1], in which the plaintiff had been given repeated assurances over many decades that he would inherit the defendant's estate, and remained in service to him at least p... ... middle of paper ... ... operty, 16th Ed, Butterworths K. Gray & S.F Gray - Land Law, 2nd Ed, Butterworths Professor Cedric D Bell - Land: The Law of Real Property, 3rd Ed, Old
Indian contract act and tender act T S RAMASWAMY IYER 10TH EDITION GOGIA AND COMPANY PUBLICATION
HILLIARD, J. And O’SULLIVAN, J. (2012) The Law of Contract [Online] 5th Ed. Oxford: Oxford University Press. Available from - http://books.google.co.uk/ [Accessed: 2nd January 2014]
The English contract Offer and Acceptance General principles There are three basic essentials to the creation of a contract which will be recognised and enforced by the courts. These are: contractual intention, agreement and consideration. The Definition of an Offer. This is an expression of willingness to contract made with the intention (actual or apparent) that it shall become binding on the offeror as soon as the person to whom it is addressed accepts it. An offer can be made to one person or a group of persons, or to the world at large.
This judgment given set criterion which is still been used in the modern court system and due to this case it was developed that an offer of contract can be unilateral and doesn’t have to be made to a specific party only. Also it was developed to that the acceptance of an offer does not require a notification and that once the concerned party purchases the product the contract is active then and there itself. And it was also established that purchase of an item is a fine example of consideration and therefore makes it a valid contract. (Smith, 2000).
In Krell v. Henry {1903} a plea of frustration succeeded because the court held that the common purpose for which the contact was entered into, could no longer be carried out. But in the same year for similar set of facts, the Court of Appeal decided in Herne Bay v. Hutton [1903] that the contract had not been frustrated because the "common formation of the contract" had not changed. It clearly was a policy decision which shows the reluctance of the courts to provide an escape route for a party for whom the contract ha...
AND UNDERSTAND THE GENERAL PRINCIPLE TO DRAW A GENERAL CONCLUSION. TABLE OF CONTENTS 1:………………………………..INTRODUCTION 2:……………………………….. RELATION 3:………………………………..CASE ANALYSIS 4:………………………………..CONCLUSION 5:………………………………..ANNEXURE 6:………………………………..BIBLIOGRAPHY INTRODUCTION In India the punishments for crimes has occupied the system than the compensation for wrong. Therefore the idea of torts has come a bit late but now it is well established in India.[1]Infact tort is a wide concept in law and a continuous process. New concepts keep on indulging in it.
The objective of this essay is to evaluate the effectiveness of the defence of change of position in protecting a defendant from hardship. The defence of change of position is made available to a defendant who has been unjustly enriched, but in good faith of the receipt of the enrichment, later suffers some changes in their personal circumstances. Unjust enrichment is not based on a wrong. Its imposition of strict liability is merited so long as an innocent defendant is not required to ‘put its hands in its pockets’. This makes sense so long as the defendant is overall no worse off by having received the initial enrichment. The defence of change of position is one that is concerned with a loss of benefit, also known as disenrichment and not with the general hardship of the defendant. It can be viewed as the same as estoppel minus the representation. The defendant must have detrimentally relied on the benefit being his to keep. Birks wrote that the defendant succeeds if he can show that he acted to his detriment on the faith of the receipt. It will not apply in circumstances where a defendant is initially enriched and subsequently encounters a loss or detriment so that overall the defendant had not been enriched. For example, a defendant, unjustly enriched, receives a sum of money and later loses the money due to unavoidable circumstances, cannot be made to pay the claimant for the initial unjust enrichment. The defendant would face a hardship or difficulty to pay the claimant, however, this does not constitute a defence to restitution. The defence ensures that the defendant is no worse off by having to make restitution. While disenrichment is to some extent dealt with by the traditional estoppel defence, that defence does not go...
Based on common law and precedent, the English law of contract has been formulated and developed over a number of years with it’s primary purpose to provide a regulated framework within which individuals can contract freely. In order to ensure a contract is enforceable there are certain elements which must be satisfied, one of which is the doctrine of consideration. Lord Denning famously professed; “the doctrine of consideration is too firmly fixed to be overthrown by a side wind” . This is a crucial indication that consideration has long been regarded as the cardinal ‘badge of enforceability’ in the formulation and variation of contracts in English common law.
A contract is an agreement between two parties in which one party agrees to perform some actions in return of some consideration. These promises are legally binding. The contract can be for exchange of goods, services, property and so on. A contract can be oral as well as written and also it can be part oral and part written but it is useful to have written contract otherwise issues can be created in future. But both the written as well as oral contract is legally enforceable. Also if there is a breach of contract, there are certain remedies for that which are discussed later in the assignment. There are certain elements which need to be present in a contract. These elements are discussed in the detail in the assignment. (Clarke,
In English Law consideration is one of the three main areas of an enforceable contract. It may be defined as an act, forbearance or promise made by a single party that constitutes the price for which the promise of another, is bought. In simple terms, the basic understanding of consideration may be seen as a ‘give and take’ tactic between two parties.