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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Political‚ legal and ethical health promotion considerations There are various political considerations involved in health promotion for the patient. The main issue that is seen at the facility that I am located at is the allocation of resources for wound care treatment. It is extremely difficult to provide patients with the supplies needed due to the recent cut backs over the past years in reimbursement from Medicare and Medicaid. Since these cutbacks have taken effect‚ it is very difficult
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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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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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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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Checkpoint History of State and Federal Prisons Krysta Nasce CJS/230 1/09/2013 Instructor: Richard Angelozzi What is the history of state and federal prison? Prisons‚ unlike jails‚ confine felons sentenced to longer then a year to serve their sentence within the facilities. They are operated by state governments but the Federal Bureau of Prisons also houses federal offenders in Federal penitentiaries. Since its establishment of prisons within the United
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Final Project Overview and Timeline Final Project Overview The final project for HSM 260 is a compilation of various financial aspects of a nonprofit organization. Nonprofit Organization Profile In 2000‚ XYZ Corporation was incorporated as a 501(c)3 nonprofit in the state of Texas. The organization’s mission is to provide psychiatric counseling services for residents of El Paso County. XYZ receives funding from the state government on an annual basis to provide services to those deemed
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Stages of Ego Development (Name) PSY/230 May 2012 (Instructor) Stages of Ego Development The first phase of Jane Loevinger’s ego development is called the Impulsive stage. Though this is the known period for toddlers‚ individuals can be in this phase for a great deal longer‚ and in reality a certain amount of individuals stay in this impulsive point the their whole life. At this point a person’s ego maintains to be centered on physical emotions‚ central desires‚ and direct wants. The second
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