Quick K's question help

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LOLschool10
Posts: 1
Joined: Mon Aug 27, 2012 5:38 pm

Quick K's question help

Postby LOLschool10 » Mon Aug 27, 2012 5:55 pm

So the first couple days of K's has me slightly confused. A lot of new terms and I had some initial difficulty wrapping my head around the concepts. Just wanted to see if my notes were correct/if I got myself in the right direction. Talking with my prof left me a little more confused.

A contract is an enforceable promise

consideration is what makes a promise enforceable--->you need consideration for making a promise enforceable

consideration is something of value given by both parties that induces them to enter into an agreement in exchange for mutual performances (can be anything of value, $$, physical objects, another promise, performance/forbearance, etc)

to get consideration (aka to make a promise enforceable) you need to bargain for a performance/return promise under R2d

you have a bargain if the promisor seeks performance/return promise from the promisee for his promise and if the promisee gives the promisor the performance/return promise in exchange for the promisor's promise.

performance can be an act other than promise, forebearance, legal relation

Did the promisor make a promise trying to get a return promise/performance from the promisee? Did the promisee give a return promise/performance on the basis of promisor's promise?

Look @ relationship between what promisor is seeking and what promisee did? It's a relatinship of mutual inducement

Remember that Hamer court said that there need be benefit OR detriment for consideration but did not define detriment the way the executor (defendant did). It's enough that legal freedom of action was restricted---actual harm is not of importance.


Sorry about the length. Just a bit nervous that I'm still missing something. TYIA.

NYC2014
Posts: 101
Joined: Mon Mar 19, 2012 9:48 pm

Re: Quick K's question help

Postby NYC2014 » Mon Aug 27, 2012 10:31 pm

Consideration can make a promise enforceable - but there are some promises with consideration that are unenforceable. You also don't need consideration to make a promise enforceable - there are some promises without consideration that are enforceable.

Hope that helps.

j/k lol




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