Contract Law assignment question Essay Example | Topics and Well Written Essays - 1500 words

Contract Law assignment question - Essay Example When the execution of the contract was considered the duty of the promise under legal and contractual means will come under consideration. This is dealt under 1. legal duty, 2. duty arises from the contract, 3. the duty arised from the contract. According to the UK law commission recommendations the consideration of the duty must not be against the law and public policy. This point is derived from the traditional law. Under common law the term consideration is a controversial requirement for the contracts. This is considered controversial because this is not necessary in civil law systems and it is considered in law of obligations and the contexts involving the criminal offences. This controversial thing was introduced in the law because, both the parties that entered into a contract will bargain and this bargain will come to the fore or disappears when any one breaches the contract. So, in that context, if the situation does not come under civil law the consideration term is taken f or perusal. This is for avoiding unnecessary or unintentional advantage for other party. In the case of Eastwood v. Kenyon the guardian of a young girl raised loan for her education. This is in the intention of improving her marriage prospects. After her marriage the court held that the husband need not pay the loan as the loan raised for the education of the girl was a past consideration. Two parties can enter into a future contract regarding sale and purchase. When a person is having enough goods that he can sell. for reasonable profit after a certain time and a person who wants to make profit by buying certain goods after a period of time can make a future contract. The supplier must sell the goods by