CONTRACT LECTURES TRANSCRIPTS Total time = 46 mins 01 secs
C. STRICKLAND
LECTURE 4
Track/Slide 1
01.24 mins
In this lecture we begin our discussion of the topic of consideration.
To recap, we know that for there to be a legally binding contract, the courts objectively look
for the existence of an
Offer, an
Acceptance of that offer according to the mirror-image rule,
Intention to Create Legal Relations and
Consideration.
The modern law of contract really got under way with the development of a GENERAL
WRIT OF ASSUMPSIT for ‘ breach of a promise’.
Obviously the courts would be overworked if EVERY breach of contract was enforceable
through the courts – so there was a need for some ‘RULES’ to determine which promises
were enforceable. The main 2 rules concern:
i.
ii.
the doctrine of consideration and
the presence of an Intention to create legal relations with the other
party.
Intention to create legal relations has already been considered in a previous lecture.
In this lecture we thus focus on consideration and it is a big topic.