Consideration Student Name Instructor Name University Affiliation Date Abstract Consideration is the price that the promisor asks in exchange for their promise‚ that is‚ the price of a given promise. Consideration is not a significant part of a contract in a number of jurisdictions. Once parties have reached a binding agreement‚ that becomes sufficient. Nevertheless‚ the common law requires that for agreement to be binding‚ the person to whom a promise is made (promisee) must offer
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Consideration In contract law consideration is concerned with the bargain of the contract. A contract is based on an exchange of promises. Each party to a contract must be both a promisor and a promisee. They must each receive a benefit and each suffer a detriment. This benefit or detriment is referred to as consideration. Consideration must be something of value in the eyes of the law - (Thomas v Thomas). This excludes promises of love and affection‚ gaming and betting etc. A one sided promise
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LAW OF CONTRACT Subject Code : 101 TOPIC : VALUE OF INSUFFICIENCY OF CONSIDERATION IN CONTRACT PRESENTED BY : NAME : Siddharth Dalabehera ROLL : 1283092 COURSE : BA LLB (B) UNDER THE GUIDANCE OF : MS. Jinia Kundu and MR. P. K. Ghosh ACKNOWLEDGMENT I owe a great many thanks to a great many people who helped and supported me during
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1 (a) According to the information from the question‚ Hei Lau’s letter amounted to an offer to sell his second-hand car and the offer would remain open for one week. Although Chiu Chor made the first letter to Hei Lau for inquiring “whether he would take HK$40‚000 for the car”‚ the original offer was still valid because this inquiry was a mere request for information about the offer rather than a counter offer‚ it does not imply a rejection of the offer. An example of a mere request is the case
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Introduction Consideration is one of the essential elements for a formation of a contract.1 According to Lord Pollock’s definition of consideration which is an act or forbearance of one party‚ or the promise thereof‚ is the price for which the promise of the other is bought and the promise thus given for value is enforceable.2 Besides that‚ consideration must be something of value given or promised in exchange for the promise given by the other party in order for a valid contract to be formed.3
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AREAS OF CONSIDERATION D. Process Consultant Another important area to be considered in implementing the planning strategy is the selection and roles of the process consultants namely the Corporate Planning Departments of ANSCOR and SMC. Their active participation and support in the implementation of the process is a crucial factor in its success. They will serve as facilitators that will guide the strategic levels to reach a consensus on what steps must be made to accomplish the objectives they’ve
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Essentials of Consideration Presence of consideration is one of the requisites of Valid Contract. Consideration must be of two directional nature. That means both parties should get benefited mutually. Then only the Contract becomes capable of creating legal relations. Consideration may be in the form of cash‚ goods‚ act or Abstinence. Definition of Consideration “When at the desire of the promissor‚ the promisee or any other person has done or abstained from doing or does or abstains from
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Ethical Considerations for the Investigator and Prosecutor in Homicide and Rape The investigator and prosecutor play very critical roles‚ roles that are only fairly fulfilled if all parties are as ethical as possible. Failing to act ethically can lose a case‚ set a criminal free or could even mean someone innocent going to prison. While ethics in every single type of case are important we are going to examine homicide and rape. Both homicide and rape leave the public hungry for answers.
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client without getting authorization from the attorney to do so. The ABA Model rules that were violated were : ABA Model Rule 1.5(c)‚Transactions With Persons Other Than Clients Rule 4.1 Truthfulness In Statements To Others. The NFPA Ethical Considerations not followed by the paralegal were- EC-1.7(c) ‚ EC-1.2(f) and EC-1.8(a)-this was EC was violated by the paralegal giving the client advice regarding the alimony mentioned during the meet Carl had with the client. TUESDAY-- The violations
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Legal and Ethical Considerations: Main Challenges 1. Understanding the moral risks of new technology. Millions of records on private citizens now available over the counter pose a threat to privacy. Principles of right and wrong 2. Establishing corporate ethics policies that include information systems issues. Main Social Legal and Ethical issues: 1. Privacy & personal information 2. Freedom if speech 3. Can we trust computers? 4. Intellectual property
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