Implementing Legal Relations And Consideration

1798 Words8 Pages
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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