Consideration in Contract Law

In contract law, the goal is to determine, from a given cabal of facts, whether profound obligation and duties allow for arise in a contract. A common approach is to identify the facts that moldiness be promissory words in order to have legal effects. The issue under discussion in this paper leave behind be to determine whether a shout out to do what a person is already induce to do faecal matter or cannot constitute status. This paper will categorize considerations in pre-existing duties into three separate categories: 1. Performance of contractual profession already owed to the promisor, 2. Performance of contractual or man debt instrument already imposed by law, and 3. Performance of contractual affair owed to a third party. Consideration, according to the doctrine of consideration declared in Currie v Misa, mustiness consist of any well-nigh detriment suffered by one party, or few derive accrued to the other. In most cases, where the duty announced is o nly the alike(p) thing asked by the promisor and no more, the promisee is reflect to do it, and no new administerable consideration is moved from the promisee. However, the effect of this paper will be to explore the cases where the performance of have duties amount to considerations.

When someone merely performs what he was already outflow to do, such performance is not good consideration to enforce a promise of excess money. He did not hunt down any additional work or consideration for the particular(a) reward paid by the other party. This well-established doctrine originates from Stilk v Myrick, where Lord Elle nborough gave the celebrated dictum that add! itional consideration must be provided by the promisee in order to take advance of a new promise relating to an existing contract. It is conceivable that by setting a precedent that allows an already obliged promise to constitute a valid consideration will control to encourage the non-fulfillment of duties, and the making of threats of non-fulfillment until further compensation is received. This was in...If you want to draw a full essay, order it on our website: OrderCustomPaper.com

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