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Alternatively, a deal in which an actor takes detrimental actions possibly in reaction to an offer, without having viewed the deal as a bargain, would not be viewed as a contract under the law. The main purpose of the shift from benefit-detriment to bargain theory is to avoid inquiries into whether consideration is adequate.
Consideration must be an act, abstinence or forbearance or a returned promise. Consideration may be past, present or future. Past consideration is not consideration according to English law. However it is a consideration as per Indian law. Example of past consideration is, A renders some service to B at latter's desire.
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 in the United States .
Under the Federal Arbitration Act [9] (which has been interpreted to cover all contracts arising under federal or state law), arbitration clauses are generally enforceable unless the party resisting arbitration can show unconscionability, fraud or something else that undermines the entire contract. [10]
The Restatement (Second) of the Law of Contracts is a legal treatise from the second series of the Restatements of the Law, and seeks to inform judges and lawyers about general principles of contract common law. It is one of the best-recognized and frequently cited legal treatises [1] in all of American jurisprudence.
Consumers and the government alike are cracking down on companies that have engaged in negligent or harmful policies -- whether it's purposefully slowing down data while keeping rates high (in the...
And any laws or court rulings limiting the influence of religion in schools and government — such as the U.S. Supreme Court’s 1962 and 1963 decisions banning mandatory public school prayer and ...
In the United States Congress, a bill is proposed legislation under consideration by either of the two chambers of Congress: the House of Representatives or the Senate. Anyone elected to either body can propose a bill. After both chambers approve a bill, it is sent to the President of the United States for consideration.