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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quantitative study method for this assignment. In an essay of 750-1‚000 words‚ summarize the study‚ explain the ways in which the findings might be used in nursing practice‚ and address any ethical considerations associated with the conduct of the study. Refer to Resource Research Summary and Ethical Considerations Guidelines for suggested headings for your paper. Prepare this assignment according to the APA guidelines found in the APA Style Guide‚ located in the Student Success Center. An abstract
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Conceptual Framework and Accounting Theory Word account: 2138 Table of content Executive summary………………………………………………………1 1. Introduction……………………………………………………………2 2. Main body……………………………………………………………...3 2.1 The framework of accounting………………………………………………...3 2.1.1 Theoretical level………………………………………………………...4 2.1.2 Fundamental conceptual level…………………………………………..4 2.1.3 Operational levels……………………………………………………….5 2.2 Theory of accounting…………………………………………………………
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Conceptual Design For a Strategic Human Resources Quality Management System Dr. Sherif A. Mazen (*) Dina I. El-Kayaly (*) ABSTRACT As companies begin to compete in the challenging business environment of the new millennium‚ an ever-increasing reason for success lies in the function of effective human resource management (HRM). Controlling these resources (physical‚ organizational‚ information and human) gives the company the competitive advantage. The main purpose of this paper is to deliver a decision
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Deception in Psychological Research Lindsey Bocskay Psych/540 11/16/2009 Dr. Matthew Geyer When conducting any type of psychological research‚ the American Psychological Association (APA) Ethics codes comes into effect. Every researcher or scientist is obligated to follow the standards set in the ethics codes. There are many ethical standards that need to be upheld when dealing with research. Researchers must see if the research or study meets the ethical standards. There are many ways
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Is there a genuine distinction between observable and unobservable entities? Why does it matter? How‚ and why‚ might one distinguish between theoretical and observational statements in science? I have decided to tackle both these questions because they feed into and relate to one another. They emphasize different aspects of a prevalent debate‚ all aspects of which I wish to touch on. Whether the question of a distinction between observable vs unobservable entities is synonymous to the question
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CONCEPTUAL FRAMEWORK Concept - A concept is a generalized idea of a thing or class of things. Concept vs. Idea It is roughly synonymous with the word ’idea’ but it is a little more specific. An idea can just spring to mind out of nowhere but generally a ’concept’ is based on observation of real phenomena. I say ’a little more specific’ because both the word ’idea’ and ’concept’ cover a lot of ground and are used in many ways. An example of a concept in Biology would be evolution Concept vs.
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