law regard con

law regard con

  • Submitted By: a123123
  • Date Submitted: 06/15/2014 1:10 AM
  • Category: English
  • Words: 1527
  • Page: 7

One sided promise which is not supported by consideration is a gift. Consideration is an agreement between two parties where they exchange promises and the value of each promise is regarded as sufficient consideration for the other, as the amount of value is decided by the both parties it is an exchange between the two parties. Consideration must be something of value in the law as demonstrated in the case of Thomas V Thomas (1842) where the amount little as £1 was sufficient and adequate enough to suffice as consideration. The case of Dunlop v Selfridges also demonstrates the importance of consideration which is the price of which a promise is bought. Consideration comes in many shapes and forms such as goods, services, promises, entry into competition, expertise, time, knowledge, rights, advice and giving up the right to go to court. The law highly regards consideration and insists upon it as to have consideration there would be a contract formed, and rights and obligation emerge with a contract therefore if there are consideration rights and obligation is provided to them and therefore are liable.
 In the case between Alf and Callum where Callum had painted the outside of the building there was no contract formed simply due to the fact there was not any consideration given by both parties moreover to the fact that there was no agreement between Alf and Callum on regards of the painting. Alf does not have any legal liability to pay Callum the sum of £200 even though he was pleased with the outcome of the work and agreed to pay, as he did not agree this before. So this indicates that this is intended consideration where Callum had thought he would be getting paid for his service but there was no agreement, the case of Lampleigh V Braithwaite clearly justifies this rule where Lampleigh thought he would get paid for the service he committed which was to get a pardon and it was implied that he would get paid as the service was requested by Braithwaite before the...

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