Doctrine of consideration Article Example | Topics and Well Written Essays - 3500 words

Doctrine of servant - Article ExampleAs a matter of compulsive law, the doctrine of esteem crystallized in the reign of Elizabeth I into a number of rules which are equable clearly recognizable by the modern common lawyer. First, if a person received a profit at the hands of the 11romise for which he promised to pay, the benefit was a sufficient consideration in effect, the promise hither was bought and paid for. Second, if the 11romise acted to his detriment in reliance on the promise, so that the non-fulfilment of the promise would cause him actual monetary loss, the detriment was a sufficient consideration. ... ions that created debts In popular etymology this was the very essence of the mood of contract, actus contra actum With the shift towards liability based on promises, at least on the surface, it was by no means obvious that the analogous theory should apply, and there developed an alternative formulation of the criteria that marked off binding promises from non-bin ding ones by the sulphur half of the sixteenth century this had come to be known as consideration (Ibbetson, 1999, 141). In order to generalise its nature and development, it is essential to look at it on two levels, the formal and the substantial. In formal terms, it is arduous to talk of any doctrine of consideration before about 1560 While it seems clear that lawyers before this time had the idea that there was some additional factor that was needed to make promises binding, there was no consistent right smart of describing it The sources reveal a variety of terms consideration, causa, recompense, quid pro quo. As the action of assumpsit became established, consideration emerged as the term that described the necessary feature. At a straightforward linguistic level, consideration meant little more than reason or motive, so that the consideration for a promise can be seen as the reason for which it was made composition the standard definition of it found by the early seventee nth century underlines this A cause or former meritorious requiring mutual recompense, in fact or in law. Substantively speaking, though, such a definition of consideration seriously misrepresents its meaning (Ibbetson, 1999, 142)The earliest example of a case in which there is an express averment of consideration is Newman v. Gylbert (1549). The plaintiff declared on a payment of five shillings and also averred that the defendant