TRN305Y1 Lecture Notes - Lecture 21: Timesdaily, Cd Player
Document Summary
Applying the elements of a contract carlill v carbolic smoke ball co. Group 3 presentation of smith v hughes. Consideration exchange of something of value to which party to contract is not already entitled. Ex. exchange money, promise to provide whatever the thing is. Exchange doesn"t have to be of equal value. Value either as monetary payment or promise to do something (ex. labour) General rule for consideration person who makes promise has to get benefit for making promise, to whom promise is made must experience detriment on behalf of promisor. Must provide present or future act giving something now or in the future. Ex. shovelling driveway w/out being asked & going up to ask for payment. Bargain btw parties where each receive benefit/value what separates from non legal/noncontractual agreements like promises. Ex. gift prof promises to give to highest grade. 1000 is deposited with the alliance bank, regent street, showing our sincerity in the matter.
