to appear that the statement or announcement which is relied on as a promise [here the subsidy statement] was really offered as consideration for the doing of the act‚ and that the act [buying and using the wool as directed] was really done in consideration of a potential promise inherent in the statement or announcement.’ There must be a relationship of quid pro quo between the statement and the Act. Here there was no promise offered in consideration of doing an act. Buying the wool was merely
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her promise? In Amy’s case‚ have no doubt‚ Amy is the offeror who provides an offer to Beryl and her family who have accepted it by receive Amy’s money or others. However‚ there are requirements to form a valid contract other than offer and acceptance‚ that are‚ intention to create legal relation and consideration. What is consideration? It can be describe as being something which represent either some benefit to the person making a promise or some detriment to the person to whom the promise is made
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others promise that is‚ anything of value that the parties have agreed to exchange. In the absence of consideration the courts would not enforce an agreement. The case of edmons v Lawson is a good example. It may consist of a promise to perform a desired act or a promise to refrain from doing an act that one is legally entitled to do. In a bilateral contract—an agreement by which both parties exchange mutual promises. In a unilateral contract‚ an agreement by which one party makes a promise in exchange
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regaining from doing something that one has a legal right to do. 3. The law will not enforce an agreement that has not been bargained for. An agreement involves a bargained-for exchange when 1) a promise is made in exchange for another promise‚ 2) a promise is made in exchange for an act‚ or 3) a promise is made for forbearance of an act. 4. A court may refuse to enforce a contract or any clause of a contract if is considers the contract or clause unconscionable‚ that is‚ the consideration is
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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 consideration (maybe in monetary terms) for the promise given to him (Lorenzen‚ 1918‚ p.28). Hence‚ most gratuitous promises are never enforced because
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ln order for them to succeed they will have to show that South Yorkshire reluctantly agreeing and Ms Barbara Ella promise was contractually binding. The two issues can be out to be looked at separately. Issue L (A): Does The Initial Agreement Between Hard-Up- Construction And South Yorkshire Constitute An Enforceable Contract? For a bilateral contract (Here both parties make promises‚ which are contained in the offer and acceptance) to be enforceable there must exist:(i) an agreement (which can
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According to FASB ASC 958-605-8‚ pursuant to paragraph 958-605-25-2‚ an unconditional promise to give shall be recognized when it is received. There must be satisfactory confirmation that a promise was made and received in the form of supporting documents. Furthermore‚ according to FASB ASC 958-605-25-9‚ a statement of transfer that does not clearly specify whether it is a promise is considered an unconditional promise to give if it signifies an unconditional intention to give
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Considering Elvis Abstract A contract is formed when the offerer promises to do or not to do something. Acceptance is the offeree agreeing to do what is requested in the offer. An offer may end in several ways‚ in particular‚ by the death of the offerer or offeree. In order for the agreement to be effective both parties to contract must give consideration‚ the offer must be serious‚ and clearly stated. The promise Elvis Presley made prior to Jo Laverne Alden prior to his death may be enforceable
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“when at the desire of the promisor‚ the promise or any other person has done or abstained from doing or does or abstains form doing‚ or promises to do or to abstain from doing‚ something‚ such act or abstinence or promise are called a consideration for the promise.” Example: Few days ago I choose to go to Cox’s Bazar. So book a bus ticket with 1‚200 taka. In this case my promise‚ the consideration is the travel service and the bus company’s promise‚ the consideration is 1‚200 Taka. History
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Promises and Promise Breaking Add Another Dimension to Written Pieces Alexander Crisp Brianna Wells March 13‚ 2013 English 121 People can give out empty promises in order to get what they want‚ sometimes it works and the results are catastrophic‚ but there are situations where the empty promise is seen right through. Christopher Marlowe’s works both “Dido‚ Queen of Carthage” and “The Passionate Shepard to His Love” along with Walter Ralegh’s poem “The Nymph’s Reply to the Shepard” display such
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