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Words: | Submitted: Mon Dec 22 2003
... money you paid. Here we can see that if there is good consideration then some degree of reciprocity has been fulfilled. As mentioned in the opening line consideration does not have to be immediate and may be a promise of future performance. Consideration may therefore be executed, where one party performs "an act in fulfilment of a promise made by the other" or executory "where there is an exchange of promises to perform acts in the future."2 The doctrine of consideration can therefore be seen as a set of rules, which play the principal role in the decision by the courts as to which agreements or promises are found to be legally binding. Before we discuss the rules that will be employed to make such a decision it is important that not all legal scholars are in agreement regarding the nature of the Doctrine of consideration. Professor Atiyah who argues there is ...
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