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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Deontological Paper Marketing products‚ services‚ or even charities to the public has become a very powerful force in our world. Millions of dollars are spent on advertising each year with the goal of increasing revenue for the business or raising awareness of an organization to the public. Pharmaceutical companies bring products to the markets that are intended to help people live better lives. Advertising is a relatively new phenomenon for pharmaceutical companies in the United States. “In
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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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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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I have always been one to side with a utilitarian’s point of view‚ such as Mill and Bentham. The greatest happiness of the greatest number‚ or as cold as it may be‚ sacrificing the few for the good of the many. Utilitarian moral theories evaluate the moral worth of action on the basis of happiness that is produced by an action. Whatever produces the most happiness in the most people is the moral course of action. I will give the best arguments against Utilitarianism‚ and show in my own opinion‚ why
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Two individuals who supported Utilitarian Ethics were Jeremy Bentham and John Stuart Mill. Bentham believed that companies should go about decisions by determining "the greatest good for the greatest number" and whether situations would cause either pleasure or pain. Bentham would agree
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Deontological moral theory is a Non-Consequentialist moral theory. While consequentialists believe the ends always justify the means‚ deontologists assert that the rightness of an action is not simply dependent on maximizing the good‚ if that action goes against what is considered moral. It is the inherent nature of the act alone that determines its ethical standing. For example‚ imagine a situation where there are four critical condition patients in a hospital who each need a different organ in
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For example‚ the privatisation of foster care in the United Kingdom‚ which is becoming increasingly popular (Steen and Smith‚ 2012) can be argued as a deontological approach from the government’s point of view. The deontological ethics theory focuses on the morality of the action and not the consequences of that action (Encyclopædia Britannica‚ 2015). Caring for vulnerable members in society is a duty‚ privatisation meets the increasing
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