LAW 122 Chapter 8: Chapter 8- Law 122
11 Sep 2016
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Bargains involve a mutual exchange of value ce. Must move from each side of a contract but necessarily to the other side party. Providing benefit to someone, do not need to promise to provide benefits to each other. Sufficient consideration: may be almost anything of value. Judge don"t want to deal with intimate matters. Although consideration needs to be sufficient, it does not need to be adequate. Has essentially the same value as the consideration for which it is exchanged. Giving up far more than what i am getting in return. Law presume people are able to look after their own interests. Peppercorn theory: peppercorn is not worth the horse. Fts: is a promise to not pursue a lawsuit if legal claim is valid. Lawsuits are expensive and unpredictable, very few are decided by the judges. Parties settle their dispute out of court, expected that the plaintiff will use.
