PRINCIPLES OF LIBILITY

Principles of Liability



Principles of Liability

Consideration is very significant part in English Law of contract. In Contract Law, Consideration must be something of value in the eye of the law. Without it, although it is only a nominal chocolate wrapper, the contract cannot exist. If there is no contract, there is no scope for breach. Consideration has also evidential function which demonstrates the intention of the parties to enter in to a legally binding contract. Once the parties have entered in to contract or have made an agreement, both of them are legitimately bound to perform their duty ...