Salford Law - Salford Business School

Assessment 1

Module leader: Mr. Donal Loftus

Module title &module code: | Contract Law 35587 | Level 4Erasmus program | Title of assignment | In Contract law, how far do you agree with the claim that the traditional rules of consideration have been relaxed in order to maintain effective business relationships? | Programmes undertaking the assignment | LLB (Hons) Law | Pupil | Juan López MartínezID: 004426895 | Hand-in date | Friday November 06th 2015 |

INTRODUCTION
First of all, the definition of Consideration is going to be stated. Consideration is an essential fact in the elaboration of a contract. It may consist of a promise to perform a desired action or a vow to abstain from doing any act that one has the legal right to do. A bilateral contract is an agreement by which both parties exchange mutual promises, every promise is considered to be sufficient consideration for the other. On the other hand, a unilateral contract is an agreement by which one party makes a promise in base of obtaining something in return from the other part. This ‘something in return’ is the consideration of the promise, and the promise is the consideration of the performance. Namely, this is the promise of a promise or promise made in return for a particular action. There’s going to be consideration if the price is being offered to the other party.
An Orthodox way to define consideration is based on the idea of reciprocity, whereby, a promise should not be able to enforce a promise unless you have given or promised to give something in exchange for the promise or unless the promisor given or promised to give something in return. But this idea of consideration is subjected to strong objection by Professor Atiyah (1986c), who declares that it is incoherent to base the doctrine of consideration on reciprocity.
The courts