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Illusory Promise
In contract law, an illusory promise is one that courts will not enforce. This is in contrast with a contract, which is a promise that courts will enforce. A promise may be illusory for a number of reasons. In common law countries this usually results from failure or lack of consideration (see also consideration under English law Consideration is an English common law concept within the law of contract, and is a necessity for simple contracts (but not for special contracts by deed). The concept of consideration has been adopted by other common law jurisdictions, includ ...). Illusory promises are so named because they merely hold the illusion of contract. For example, a promise of the form, "I will give you ten dollars if I feel like it," is purely illusory and will not be enforced as a contract. It is a general principle of contract law that courts should err on the side of enforcing contracts. Parties entering into the arrangement presumably had the intention of formin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. ''Stare decisis'', the principle that cases should be decided according to consistent principled rules s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consideration
Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts (contracts by deed). The concept has been adopted by other common law jurisdictions. The court in '' Currie v Misa'' declared consideration to be a “Right, Interest, Profit, Benefit, or Forbearance, Detriment, Loss, Responsibility”. Thus, consideration is a promise of something of value given by a promissor in exchange for something of value given by a promisee; and typically the thing of value is goods, money, or an act. Forbearance to act, such as an adult promising to refrain from smoking, is enforceable if one is thereby surrendering a legal right. Consideration may be thought of as the concept of value offered and accepted by people or organisations entering into contracts. Anything of value promised by one party to the other when making a contract can be treated as "consideration": for example, if A contracts to buy a car from B for $5,000, A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consideration Under English Law
Consideration is an English common law concept within the law of contract, and is a necessity for simple contracts (but not for special contracts by deed). The concept of consideration has been adopted by other common law jurisdictions, including the US. Consideration can be anything of value (such as any goods, money, services, or promises of any of these), which each party gives as a quid pro quo to support their side of the bargain. Mutual promises constitute consideration for each other. If only one party offers consideration, the agreement is a "bare promise" and is unenforceable. Value According to ''Currie v Misa'', consideration for a particular promise exists where some ''right'', ''interest'', ''profit'' or ''benefit'' accrues (''or will accrue'') to the promisor as a direct result of some ''forbearance'', ''detriment'', ''loss'' or ''responsibility'' that has been given, suffered or undertaken by the promisee. Forbearance to act amounts to consideration only if one i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wood V
Wood is a porous and fibrous structural tissue found in the stems and roots of trees and other woody plants. It is an organic materiala natural composite of cellulose fibers that are strong in tension and embedded in a matrix of lignin that resists compression. Wood is sometimes defined as only the secondary xylem in the stems of trees, or it is defined more broadly to include the same type of tissue elsewhere such as in the roots of trees or shrubs. In a living tree it performs a support function, enabling woody plants to grow large or to stand up by themselves. It also conveys water and nutrients between the leaves, other growing tissues, and the roots. Wood may also refer to other plant materials with comparable properties, and to material engineered from wood, or woodchips or fiber. Wood has been used for thousands of years for fuel, as a construction material, for making tools and weapons, furniture and paper. More recently it emerged as a feedstock for the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harris V
Harris may refer to: Places Canada * Harris, Ontario * Northland Pyrite Mine (also known as Harris Mine) * Harris, Saskatchewan * Rural Municipality of Harris No. 316, Saskatchewan Scotland * Harris, Outer Hebrides (sometimes called the Isle of Harris), part of Lewis and Harris, Outer Hebrides * Harris, Rùm, a place on Rùm, Highland United States * Harris, Indiana * Harris, Iowa * Harris, Kansas * Harris Township, Michigan * Harris, Minnesota * Harris, Missouri * Harris, New York * Harris, North Carolina * Harris, Oregon * Harris, Wisconsin Elsewhere * Harris, Montserrat Other places with "Harris" in the name * Harrisonburg, Louisiana * Harrisonburg, Virginia * Harris County (other) * Harris Lake (other) * Harris Mountain (other) * Harris Township (other) * Harrisburg (other) * Harrison (other) * Harrisville (other) People * Harris (Essex cricketer) * Harris Jayaraj, an Indian music director * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Douglas V
Douglas may refer to: People * Douglas (given name) * Douglas (surname) Animals *Douglas (parrot), macaw that starred as the parrot ''Rosalinda'' in Pippi Longstocking * Douglas the camel, a camel in the Confederate Army in the American Civil War Businesses * Douglas Aircraft Company * Douglas (cosmetics), German cosmetics retail chain in Europe * Douglas (motorcycles), British motorcycle manufacturer Peerage and Baronetage * Duke of Douglas * Earl of Douglas, or any holder of the title * Marquess of Douglas, or any holder of the title * Douglas Baronets Peoples * Clan Douglas, a Scottish kindred * Dougla people, West Indians of both African and East Indian heritage Places Australia * Douglas, Queensland, a suburb of Townsville * Douglas, Queensland (Toowoomba Region), a locality * Port Douglas, North Queensland, Australia * Shire of Douglas, in northern Queensland Belize * Douglas, Belize Canada * Douglas, New Brunswick * Douglas Parish, New Brunswick * Doug ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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