What Is Consideration In An Agreement

Let`s look at the uncle`s situation above. If the same uncle had made the following offer to his 13-year-old nephew: „If you don`t smoke cigarettes, don`t drink alcohol until your 21st birthday, swear or play cards for money, I`ll pay you $5,000.“ On the nephew`s 21st birthday, he asks the uncle to pay, and this time, in the ensuing complaint, the nephew can win. [35] Although the promise not to drink and play alcohol when he was under the age of 21 was not a valuable consideration (it was already prohibited by law), most states allow smoking at the age of 18 and swear, while some consider it vulgar, is not illegal at any age. Although smoking is limited until the age of 18, it is legal for people over the age of 18, so the promise not to take away from it has legal value. However, the uncle would still be disempowered if his nephew drank alcohol, when this consideration has no value because it was paired with something of legal value; Therefore, compliance with the entire collective agreement is necessary. Whatever type of contract you enter into, you will probably hear the term „reflection.“ Indeed, in addition to offer and acceptance, „reflection“ is one of the essential elements of a contract. But what does that really mean? On the other hand, if you tell your neighbour that you are giving him the bike, if you cannot sell it at your garage sale, there is no matching element because she has not agreed to pay you something. His promise to give him the bike may be an enforceable promise, but it is not an enforceable contract. Reflection is usually not part of a gift. The reason why both exist in the legal orders of the Common Law is considered by scholars to be the result of the combination of two different threads by 19th century judges: first, the obligation to reflect was at the centre of the effects of the assumption, which had grown up in the Middle Ages and which, until 1884, when the old forms of action were abolished. , remained normal in England and Wales for breaches of a simple treaty; secondly, the notion of agreement between two or more parties, as the essential legal and moral basis of the treaty in all legal systems, was promoted by the 18th-century French writer Pothier in his dealing with The Bonds, much read (especially after the English translation in 1805) by English judges and jurists. The latter sounded good with the fashionable will theories of the time, particularly John Stuart Mill`s influential ideas on free will, and was grafted upon the traditional Common Law request for the consideration of grounding an action in assumpsite.

[26] In general, taking into account the past is not a valid consideration and has no legal value. The attention of the past is a reflection that has already been received by the promise made to the promisor. In other words, the act or indulgence of the proceeds of the promise is the result of the promise of the promisor.

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