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 ism of consideration is considered by most people in the legal profession to be the most debatable doctrine within common law . There has been some considerable debate for a shape 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 do in this respect.This paper stresses that lawyers often pose the argument that all contracts must as a return of necessity be supported by an agreed upon consideration. In line with this argument, if an individual happens to forecast anther troupe 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 gain while the promis e on the other hand is considered to shake 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 rule that was made in the case of Stilk v. Myrik.