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mid assignment for contract 1
JURD7150 - Principles of Private Law
3 Found helpful • 5 Pages • Essays / Projects • Year: Pre-2021
WILLIAMS V ROFFEY: A CHALLENGE TO DOCTRINE OF CONSIDERATION INTRODUCTION Consideration is something must be regarded by the law as valuable and can be seen as the agreed price of the promise. The doctrine of consideration requires that something must be given in return for a promise in order to make it binding. A contract must be "met with" or "supported by" consideration to be enforceable. The case of Williams v Roffey identified the practical benefit rule that a promise to complete an existing obligation could amount to valid consideration if the obligation allows the promisor to gain a practical benefit, or avoid a detriment without economic duress or fraud. Practical benefit rule can be seen in some ways that modernise the doctrine of consideration so it related to today’s society.
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