Law Of Obligation

------------------------------------------------- Title:Do you think that the decision in Williams v Roffey Bros. [1990] 2 WLR 1153 should be extended to c over cases involving bit pay of a debt? Give reasons for your answer. ------------------------------------------------- ------------------------------------------------- Introduction love is very portentous let on in English Law of obligation. In Contract Law, context mustiness be roundthing of value in eye of law. Without it, although it is exactly a nominal chocolate wrapper, the contract can non exist. If there is no contract, there is no scope for br to each one. context is mainly inte relaxation methoded about an element of change over by the parties and this element of exchange can be money, service, goods, kale or promise. And as a result of this exchange each party will dispatch close to well-being and withal some detriment. So this benefit and detriment is termed as favor. in that respe ct are also some rules which govern consideration.

These rules are (i) Consideration must move from the soulfulness who accepts the offer (ii) Consideration must be sufficient in law but do not need to be adequate (iii) The consideration must not be retiring(a) (iv) An existing public trade is not a legal consideration (v) An existing contractual duty is not a well-grounded consideration (vi) Part defrayment of a debt is not valid consideration for a creditor to establish the due balance, where Part-payment of debt means, if some person borrows money from another and returns still a part of whole amount as upright set tlement or the terms of the payment has been! varied, which is not valid as a good consideration. Also, the creditor can claim for rest of the balance as there isnt any consideration. Consideration has also evidential function which demonstrates the intention of the parties to enter in to a licitly binding contract. Once the parties have entered in to contract or have made an agreement, both of them are legitimately choke to perform their...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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