6 votes
Accepted

What is the point of requiring consideration in a contract?

Lon Fuller, in a classic article titled "Consideration and Form" posited three purposes of consideration: an evidentiary function, a cautionary function, and a channelling function. He ...
Jen's user avatar
  • 54.8k
2 votes

Does redundant first party consideration nullify a contract?

united-states The majority rule in the U.S. is that modification of a contract does not generally require new consideration. The bigger concern for Alice is that her debt either is or almost is barred ...
ohwilleke's user avatar
  • 213k
2 votes

Does redundant first party consideration nullify a contract?

The traditional rule: variation would require fresh consideration The common law rule has traditionally been that partial performance of a pre-existing debt is not good consideration1 that could bind ...
Jen's user avatar
  • 54.8k
2 votes
Accepted

Is TfL bound By their pledged fare freezes?

Transport for London (TfL) is the responsibility of the Mayor of London, and it is he who ultimately decides on fare increases or freezes. TfL then publish the actual numbers on their website, and may ...
Steve Melnikoff's user avatar
2 votes
Accepted

Legality of promising to refrain from tipping another off?

If X says to Z "Do what I want, or I will tell Y soemthign that will be to your disadvantage" that is blackmail or extortion in many, probably most common-law jurisdictions (quite probably ...
David Siegel's user avatar
2 votes

What is the point of requiring consideration in a contract?

The consideration doctrine has become more and more lenient over time giving rise to the "peppercorn theory" that courts will not second guess the amount of consideration in a transaction, ...
ohwilleke's user avatar
  • 213k
1 vote

Is a non-exclusive and revocable license valid consideration for a legal agreement/contract?

Yes You get to use something together with everyone else who buys a license until someone calls it off. That is more than a peppercorn, thus it is a valid consideration.
Trish's user avatar
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1 vote

Is Zero-Clause BSD legally binding?

IN NO EVENT SHALL THE AUTHOR BE LIABLE FOR ANY SPECIAL, DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES WHATSOEVER That is part of the license, and being free from and Lawsuit is valid ...
Trish's user avatar
  • 39.4k
1 vote

What counts as consideration in contract law?

united-states Consideration is usually an element of a valid contract. But consideration is not required at all for a personal guarantee of a debt, for marital agreements entered into during a ...
ohwilleke's user avatar
  • 213k
1 vote

What counts as consideration in contract law?

Pretty much anything that is neither illegal nor a pre-existing obligation can be consideration. A necessary pre-condition for any trade or contract is a different valuation of whatever is being ...
jmoreno's user avatar
  • 2,059
1 vote

What counts as consideration in contract law?

See generally Hamer v. Sidway (1891), 124 NY 538, citing indirectly Currie v Misa (1875) LR 10 Ex 893: 'A valuable consideration in the sense of the law may consist either in some right, interest, ...
Jen's user avatar
  • 54.8k
1 vote

Are there any crimes or civil wrongs in disingenuously wasting another’s time?

Depending on who said what, it may be attempted fraud. This would not exactly punish the wasted time, it would punish the attempt to do something more serious. Just how a legal system deals with ...
o.m.'s user avatar
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