LAW

Contract Law

Contract Law

Introduction

Consideration Law or the doctrine of consideration is considered to the most prominent features of the entire contract Laws only, the fundamental principle of this law is that under this law it is liable for the parties to do or agree on something that is the request of essential need of other party (Xie, Z, 2010), (Wishart, C, H, 2007).

This whole act of promise by both the parties is referred to as consideration, further if this consideration is found absent from the promise made then other party cannot enforce the promise to the promssor, therefore it is Argued that if a promise of any kind for instance giving a gift, promise of donating some amount on the need of time, promise made for humanity and others cannot be enforced to anyone (Xie, Z, 2010), (Wishart, C, H, 2007).

Hence it is commonly argued that if a promise made without consideration it is not liable to form a contract law, and in addition as described by the judges of court's that the clause of consideration is an essential requirement in the proper contract formation.

Therefore, it has become imperative for us to explore a proper and authentic justification of the clause so that it could provide a clear picture of its importance in the formation of the contract law. (Xie, Z, 2010).

Therefore, normally consideration clause is considered as the important tool in the contract law as it creates a strong bond between both the contracted parties and there level of consideration among them. On the perspective of the above scenarios, it could be assumed that the clause of the consideration is the backbone of the contract laws (Wishart, C, H, 2007).

With its importance in the final drafting of the contract law, this clause should be hazel free but that is not the condition as several practitioners of law and judges have strongly criticized the presence of this clause in the contract law by saying it as irrelevant, fake and forcefully inserted in the laws of contract.

Therefore, this report will focus on the explanation trough several cases and then analyze in justification in the current English law (Xie, Z, 2010).

Discussion

The Law of Doctrine of Consideration

It is generally considered in the common Laws of the country that a person can not enforce another person to give his acceptation on a certain point, even if all the requirements of the contract are smoothly met.

As to convince another person or to create, a personal understanding is considered an individual matter and the common Laws of the country do not entertain certain options.

In order to enforce a promise to the second party it is imperative to include another principle or a clause in the underline agreement that has the ability and power to enforce the matters onto other parities.

only for the above define reason the need of consideration occurred and it was implemented in the contract Laws and if speaking in general words this clause means that a party is agreeing or giving ...