... performance of existing duties may be said to amount to sufficient consideration. Part One Lennard is in the position whereby he has accepted an offer after negotiations, only to find out later that the car is no longer for sale. The problem lies in the fact that he has been made an offer and accepted it. There are two issues to consider; firstly was this a valid exchange, and secondly, is this exchange therefore binding as a contract. The first issue to consider is whether or not there is actually a contract between the two parties. For there to be a contract, a number of criteria must be satisfied. In this case, has an offer been made by one party, and accepted by the other; has there been consideration made by either party; and was there an intention to create legal relations. All of these need to be present, at least, for a ...

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