Contract Law and Case Law Coursework Example | Topics and Well Written Essays - 2000 words

Contract Law and Case Law - Coursework ExampleAs the report declares the tenet of consideration is considered by most people in the legal profession to be the most problematic doctrine within common law . in that respect has been some considerable debate for a number of years as to whether this doctrine should be removed based on the confusion that is noted as often arising often result from its application, however a concrete decision is yet to be made in this respect.This paper stresses that lawyers often pose the product line that all contracts must as a matter of necessity be supported by an agreed upon consideration. In line with this argument, if an individual happens to predict anther caller that he will perform a given act without there being any promise made in return, such an agreement is technically unenforceable as there will be no consideration exchanged in the contract agreement. In such a situation, the promisor is considered to be losing something without any gai n while the promise on the other hand is considered to fix made a gain without incurring any loss. However, if a promise happens to be made and the promise actually offers a promise in return, such an agreement is considered as having consideration and the contract that is entered into is legally enforceable. The case of Williams V. Roffey Bros & Nicholls is considered to have change the traditional rules surrounding the doctrine of consideration as had been set out in the ruling that was made in the case of Stilk v. Myrik.