Consideration

Have a little read:... In the Oxford dictionary of Law, consideration is defined as An act, forbearance, or promise by one party to a shrink that constitutes the price for which he buys the promise of the other. Consideration is essential to the validity of any contract other than one made by deed. Without consideration an concord not made by deed is not screen; it is a nudum pactum ( nude agreement), governed by the maxim ex nudo pacto non oritur action (a rightfulness of action does not arise out of a naked agreement). Without consideration, it is very hard to prove that a contract has been form, as it is an important element.1 In the English Legal System requires that a promise must be legally binding. Whether this must be either contained in a deed, or a guileless contract, consideration must have been given in indian lodge for a contract to be valid. The doctrine of consideration has develop over many centuries. Originally the doctrine of consideration was plainly based on a honourable obligation. This theory go off be seen in the effect of Stone v. Withpool (1588), where the judge said, any consideration that doth charge the defendant in an assumpsit must be to the benefit of the defendant or charge of the plaintiff, and no slip of paper cigarette be put out of this rule.



2 nevertheless in the Eighteenth Century, Lord Mansfield took an open- senseed attitude towards the root of consideration as an essential requirement. In the case of Rann v Hughes (1778), he argued that a previous object lesson obligation was sufficient consideration for a future gratuitous promise.3 Then, in the case of Hawkes v. Saunders (1782), Lord Mansfield said, when a man is under a moral obligation, which no court of Law or Equity can enforce, and promises, the honesty and rectitude of the thing is consideration... The ties of conscience upon an uptight mind are a sufficient consideration.4 Things really veritable in the Nineteenth Century, in the case of Eastwood v Kenyon (1840), where the moral obligation caused the promise...If you want to get a full essay, point it on our website: Orderessay



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