General Rules of Contract Law

1.0 Introduction

In this Essay we will be discussing of what does a consideration consist of and how to recognise the element that is influencing the court’s decision when the issue come in relation to perform their exiting duties.

We shall also discuss what are the general rules when comes for the formation of a contract and what are the different solutions when comes to the breaching of a contract with example of some cases.

This topic need an analysis how can consideration has the main role to play when it comes of an enforceable contract. To understand this we need to know first what the definition is given for a consideration in contract law.

2.0 Origins of consideration

As said by Edward Jenks, the doctrine of consideration was practised in 1890. But he traces its evolution to its origin to the twelfth century. He debated on the fact that the doctrine of consideration was not known by the Roman jurists. It became part of the English law purely as a matter of coincidence, as an incidental result of a unique manner of evidence; and it was not until it was well known to the extent that men raised its value as a doctrine of substantive law.

But John Wilson Twyford claims that since 1809 the common law has clearly mentioned that a promise by a party to execute an Act that he or she is legally supposed to do is not a good consideration. Hence from this statement we can conclude that a promise received in exchange is not mandatory. This is so that is it that the promise would have the consideration of building a new contract. This rule has been a subject which has received a criticism from time to time but nevertheless functioned with full figure until 1991. This rule was in vogue in that time and they were unknown to the fact that...

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...ty fail to satisfy this order, they will have to pay for damages.

5.0 Conclusion

The most importance element of a contract law is the consideration part. If consideration is absent from a contract then the enforceability of the contract will not be valid in the eyes of law. The doctrine of consideration is certainly not a western idea but it was develop by the means of common exertion and by the concept that is found in common law countries. The need of doctrine consideration is now going to be part of civil countries as well as they need to adopt the rule which is circulating across the world which is known the doctrine of consideration. Obligations have been changed and now the system of law has upgraded to another level of technological world. The importance of doctrine of consideration in contract says it all that an agreement alone cannot make a contract.