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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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 of Stevenson‚ Jacques & Co v McLean (1880) : The defendant offered to sell
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rubbed on ebonite. Copper‚ rubber or gold Name one substance that will get a positive charge when rubbed on ebonite. acetate‚ glass‚ wool or human hair One piece of glass is rubbed with silk. A second piece of glass is rubbed with a rubber balloon. What will be the charge on both pieces of glass The glass will have a positive charge when rubbed with either silk or rubber. Which piece of glass will have a stronger charge and explain why. The glass rubbed with rubber will have a stronger positive
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The Legal and Ethical Considerations of Marketing in America Paper Evolution of the Market Orientation explains why marketing is a driving force in the modern global economy. First of all‚ the first stage was covered up until the early years of the 1920’s‚ in the United States‚ called the ‘production era’. Goods were scarce and buyers were willing to accept virtually any goods that were available and make do with them. The ‘sales era’ picked up right after the early 1920’s to the 1960’s
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always see. Further‚ one learns of his own residence on a ginormous ball of gas floating through empty‚ inky blackness‚ and one begins to wonder: are there additional worlds? Does there exist other life? Is there another being in the universe right this very instance‚ wondering the exact same thing? It’s natural human curiosity‚ and curiosity that’s bound to be acted on‚ that deserves it too. While it certainly is a contentious
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Examine what is meant by consideration and consider what amounts to good or sufficient consideration. Consideration is an essential element for the formation and enforcement of a contract. It is the barge by which agreements are enforced in English contract law. It makes simple the process of parties creating contract. Curry v Misa‚ is one of the cases where the courts defined consideration as a benefit‚ a right‚ a profit to one party‚ a forbearance‚ a loss to another. Dunlop v selfridges.
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Interaction Design Christophe De Pelsemaker 3BA - Grafische Vormgeving Sint-Lukas Brussel 2011-2012 Content What is interaction design? Designers My principles of (interaction) design Sources Tamer Nakisci Namahn p. 3 p. 3 p. 3 p. 4 p. 4 p. 6 What is interaction design? Interaction design is the structure and behavior of interactive systems. Designers working with interaction design try to create relationships between people‚ products and the services they use. Not only speaking from
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What is Urban Design? “The art of creating and shaping cities and towns...” The word design is used as a verb as well as a noun. It refers to the process and activity of designing as well as the end result and/or product. Much confusion takes place unless this clearly understood. The process The process of designing (certainly in urban design) has two aspects. One aspect is the process of making decisions and choices which directly affect the physical forms and qualities of a city or town. Those
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Research Design FIGURE 6.1 Mgt 540 Research Methods Research Design 1 2 Copyright © 2003 John Wiley & Sons‚ Inc. Sekaran/RESEARCH 4E Elements of Research Design Research Design FIGURE 6.2 Choices are dictated by: Research Question Extent of rigor needed Facility and resources available Function of: Purpose of study Exploratory‚ Descriptive‚ Hypothesis Testing Type of study Causal‚ correlational Setting Field‚ Field Experiment‚ Lab 3 4 Copyright © 2003 John Wiley & Sons‚ Inc. Sekaran/RESEARCH
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