Significance Of The For A Promise Essay

705 Words May 31st, 2016 3 Pages
Consideration is another essential element which makes the agreement binding. Only in special contract like deeds do not need any consideration. In this element, the offeror will give something in exchange for the promise which also part of the bargain and it must be real and tangible with actual value: White v Bluett (1853) and need not to be adequate: Thomas v Thomas (1842) (Fried 2015; Turner 2014). In most cases, consideration in return for a promise will constitute both benefit and detriment to both parties. There are certain scenarios where the promise does not constitute a valid consideration. A promise for love or any affection or to maintain relationship does not give a valid consideration as well as a gift with condition required. Those vows to give back “post act” for which a promise has been originally given: Lampeigh v Braithwaite (1615) (Monaghan & Monaghan 2013). In addition to this, a promise to a person who had already an obligation to do as well as a promise which is not real does not constitute also a valid consideration. For those who are on legal duty or who has their power in lieu of duty cannot request something in exchange for their service: Collins v Godefrey (1831)(Routledge 2013).

3. INTENTION TO CREATE LEGAL RELATIONS

Third essential requirement in a contract is the intention to create legal relations. In order for a contract to be binding, legal and enforceable, both parties involved must manifest an intention to create legal relations…

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