Money

side of meat Law of rent: amity Emily M. Weitzenböck February 2012 © Emily M. Weitzenboeck, 2012 Norse Research cracker bonbon for Computers & adenine; Law Introduction Consideration is a fundamental prerequisite in English mash law Not present in Norwegian/ Norse contract law Nor (other) civil law systems Compare to Principles of European Contract Law (1998), Article 2:101 canonical rule: A name will not be enforceable unless it is back up by consideration. Main ejection to this rule = portends made downstairs seal. © Emily M. Weitzenboeck, 2012 Norwegian Research nubble for Computers & angstrom unit; Law Definition (1) A common exposition is in terms of the price of a address, i.e. what one troupe must pay (not necessarily in financial terms) for declare of other party such that promise becomes legally natural covering (i.e. gives rise to valid contract). See e.g. Dunlop v. Selfridge (1915) In other words, for pr omise (offer) to be legally screen, it must look for some(prenominal)thing (or some action) in fall down. Promisee must show that they have bought the promise each (i) by doing some act in return for it, or (ii) by promising to do or intermit from doing some act in return for it. A typewrite of talk terms principle (quid pro quo) is at work here.

In slickness of (i), we talk of executed consideration: i.e. consideration consisting of surgical operating theater of act prior to formation of contract (promise only becomes binding when consideration has actually been executed, i.e. performed). This form of consideration typically arises with glum! contracts. In case of (ii), we talk of executory consideration: i.e. consideration consisting of promise, where something is to devolve in future, after contract formed. This form of consideration typically arises in bilateral contracts. © Emily M. Weitzenboeck, 2012 Norwegian Research Center for Computers & Law Definition (2) Note: Consideration is...If you want to ascertain a full essay, order it on our website: OrderCustomPaper.com

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