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Author Topic: quick q about consideration  (Read 1103 times)

jhb241

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quick q about consideration
« on: December 15, 2006, 04:22:42 PM »
I'm confused about this..

In a consideration analysis, are we supposed to discuss (1) benefit to promisor/detriment to promisee and (2) if it was bargained for FOR each promise?

My Prof. says at the beginning of the analysis, you need to find out who's promise you are talking about.

Which one is proper:

1) There is adequate consideration because A's promise to B involves (1) and (2). In addition, B's promise to A involves (1) and (2).

or

2) There is adequate consideration because there is (1) and (2).

I would normally go with 2 but my Prof. notes confused me...

jhb241

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Re: quick q about consideration
« Reply #1 on: December 15, 2006, 05:48:58 PM »
I think I actually got it now. All that matters is the promisor's promise and intent, right?

Jumboshrimps

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Re: quick q about consideration
« Reply #2 on: December 15, 2006, 08:20:04 PM »
This is consideration:

A made his promise intending to induce B to act of forbear from acting, and B actually was induced to act of forbear by A's promise.

Soon2be1L

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Re: quick q about consideration
« Reply #3 on: December 16, 2006, 11:54:38 PM »
My understanding is that the detriment/benefit concept is the old law- or the old way -
the new way is the "bargained for" concept.

I believe my text says that- not sure- but I know my prof. said that.

HTH

Happy_Weasel

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Re: quick q about consideration
« Reply #4 on: December 22, 2006, 10:43:31 PM »
Yeah...thats how it usually works. It is basically an intentional exchange. Something is saught, something is given

Blunderbuss

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Re: quick q about consideration
« Reply #5 on: January 14, 2007, 11:53:42 AM »
Check restatement of contract,
Consideration can be a promise, performance or forbearance that is given by the promisor and sought for by the promisee.  Existence of a bargain is essential to consideration, detriment and benefit are not relevant. 

london

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Re: quick q about consideration
« Reply #6 on: January 15, 2007, 11:25:08 AM »
Yes its about detriment and benefit.Something is saught, something is given...I believe its definition was given in Currie v misa ?