- Dedication
- New to edition
- Preface
- Guide to the online resources
- Table of cases
- Table of legislation
- Table of statutory instruments
- Table of EU legislation
- Table of international treaties and conventions
- Table of codes of practice
- Part 1 Introduction
- 1. Studying Law
- Part 2 The English legal system
- 2. Law, the Constitution, EU Membership, and Human Rights
- 3. Sources of Law, Statutory Interpretation, and the Legislative Process
- 4. The Court Structure and Alternative Forms of Dispute Resolution
- Part 3 Contractual obligations
- 5. Essential Features of a Valid Contract 1: Offer and Acceptance
- 6. Essential Features of a Valid Contract 2: Consideration, Intention to Create Legal Relations, and Certainty of Terms
- 7. Contracts, Contractual Capacity, Mistake, Misrepresentation, and Duress
- 8. Contractual Terms
- 9. Statutory Regulation of Contracts
- 10. Discharge of Contract and Remedies for Breach
- Part 4 Tortious liability
- 11. Negligence and Nuisance
- 12. Economic Loss, the Liability of Professional Advisors, and Psychiatric Injury
- 13. Vicarious Liability and Statutory Duties
- Part 5 Company law
- 14. Trading Structures and Forming the Business Enterprise
- 15. Corporate Administration
- 16. Maintenance of Finance and Capital
- 17. Corporate Management
- Part 6 Agency law
- 18. Agency
- Part 7 Employment
- 19. Employment Status and the Terms Forming the Contract
- 20. Dismissal at Common Law; Redundancy and the Transfer of Undertakings
- 21. Unfair Dismissal and Constructive Dismissal
- 22. Equality in the Workplace and Parental Rights
- 23. Regulation of the Conditions of Employment
- Part 8 Intellectual property
- 24. Intellectual Property
- Glossary
- Index
(p. 115) 6. Essential Features of a Valid Contract 2: Consideration, Intention to Create Legal Relations, and Certainty of Terms
- Chapter:
- (p. 115) 6. Essential Features of a Valid Contract 2: Consideration, Intention to Create Legal Relations, and Certainty of Terms
- Author(s):
James Marson
and Katy Ferris
- DOI:
- 10.1093/he/9780198766285.003.0006
This chapter is a continuation of the previous one, and further discusses the essential features of a legally binding, or valid, contract. It puts particular importance on the meaning of ‘consideration’, which is what makes a promise or agreement a ‘bargain’ and, therefore, enforceable. The courts are not bound to, and will not, consider a ‘bare promise’. Parties to a contract must intend it to be legally binding, and not just be social or domestic agreement, and such contracts must contain certain terms that identify the rights and obligations of both parties. Without an understanding of these crucial elements, agreements may be concluded but they will not create an enforceable contract. Also, although a contract is enforceable by those parties to it, this right can be extended to third parties if the contract has been made for the benefit of these parties.
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- Dedication
- New to edition
- Preface
- Guide to the online resources
- Table of cases
- Table of legislation
- Table of statutory instruments
- Table of EU legislation
- Table of international treaties and conventions
- Table of codes of practice
- Part 1 Introduction
- 1. Studying Law
- Part 2 The English legal system
- 2. Law, the Constitution, EU Membership, and Human Rights
- 3. Sources of Law, Statutory Interpretation, and the Legislative Process
- 4. The Court Structure and Alternative Forms of Dispute Resolution
- Part 3 Contractual obligations
- 5. Essential Features of a Valid Contract 1: Offer and Acceptance
- 6. Essential Features of a Valid Contract 2: Consideration, Intention to Create Legal Relations, and Certainty of Terms
- 7. Contracts, Contractual Capacity, Mistake, Misrepresentation, and Duress
- 8. Contractual Terms
- 9. Statutory Regulation of Contracts
- 10. Discharge of Contract and Remedies for Breach
- Part 4 Tortious liability
- 11. Negligence and Nuisance
- 12. Economic Loss, the Liability of Professional Advisors, and Psychiatric Injury
- 13. Vicarious Liability and Statutory Duties
- Part 5 Company law
- 14. Trading Structures and Forming the Business Enterprise
- 15. Corporate Administration
- 16. Maintenance of Finance and Capital
- 17. Corporate Management
- Part 6 Agency law
- 18. Agency
- Part 7 Employment
- 19. Employment Status and the Terms Forming the Contract
- 20. Dismissal at Common Law; Redundancy and the Transfer of Undertakings
- 21. Unfair Dismissal and Constructive Dismissal
- 22. Equality in the Workplace and Parental Rights
- 23. Regulation of the Conditions of Employment
- Part 8 Intellectual property
- 24. Intellectual Property
- Glossary
- Index