Contract Law and Case Law Coursework Example | Topics and Well Written Essays - 2000 words

Contract Law and Case Law - Coursework Example As the report declares the doctrine of consideration is considered by most people in the legal profession to be the most problematic doctrine within common law . There has been some considerable debate for a number of years as to whether this doctrine should be removed based on the confusion that is noted as often arising often result from its application, however a concrete decision is yet to be made in this respect. This paper stresses that lawyers often pose the argument that all contracts must as a matter of necessity be supported by an agreed upon consideration. In line with this argument, if an individual happens to promise anther party that he will perform a given act without there being any promise made in return, such an agreement is technically unenforceable as there will be no consideration exchanged in the contract agreement. In such a situation, the promisor is considered to be losing something without any gain while the promise on the other hand is considered to have made a gain without incurring any loss. However, if a promise happens to be made and the promise actually offers a promise in return, such an agreement is considered as having consideration and the contract that is entered into is legally enforceable. The case of Williams V. Roffey Bros & Nicholls is considered to have change the traditional rules surrounding the doctrine of consideration as had been set out in the rulin g that was made in the case of Stilk v. Myrik.