Implementing Legal Relations And Consideration

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Introduction In the law of contract before the intention to create legal relations and consideration are all brought into the scope of creating a contract, a promise must first be communicated and in most scenarios, a promise is reciprocated. I therefore agree that promises for promises is the foundation whereby contracts are built and damages should reflect promises made which are not fulfilled. A promise can be defined as “a legally binding declaration that gives the person to whom it is made a right to expect or to claim the performance or forbearance of a specified act.” In the law of contract, promises play an integral part in the formation of a contract. For example, if A promises to sell his house to B and B promises to pay $200 for it, there is an expectation that when it is time to fulfil his commitment and B presents the $200 to A, there will be a house to collect. Therefore, this highlights the notion that promises for a promises are necessary in order for contracts to be legally binding. If for some reason B does not obtain the house, A will be in breach of contract In this essay, I will discuss that in contract law, bilateral contracts epitomizes the notion of promises for promises as the grounds for contractual obligations. I will examine how damages are recovered in reliance interest when a party fails to uphold their contractual obligations to another party. Finally, I will discuss why I agree that damages should reflect the promises made between two

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