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The origins of the modern consideration doctrine can be traced back at least to thirteenth-century English law. At that time, the English courts did not yet recognize our modern concept of breach of contract. They did, however, enforce legal rights that were similar to those arising under contracts today.
The UCC gives a buyer a right to inspect goods prior to accepting or paying for them, and a buyer is not required to pay for goods that he or she does not accept.
Since contract law generally requires some objective indication that an offeree intends to contract, the general rule is that an offeree's silence, without more, is not an acceptance. In addition, it is generally held that an offeror cannot impose on the offeree a duty to respond to the offer.
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. In some states, element of consideration can be satisfied by a valid substitute.
A promise to do or refrain from doing something in exchange for something else. An offer must be stated and delivered in a way that would lead a reasonable person to expect a binding contract to arise from its acceptance. business law. contracts.
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For a contract to be considered valid and binding in South Africa, the following requirements must be met: There must be consensus ad idem between the contracting parties. The parties must have seriously intended the agreement to result in terms which can be enforced. The parties must have the capacity to contract.
"Origins of the Doctrine of Consideration 1535-1585".
The first step is that the contract assertor must show that there is an objective appearance of consensus . 2 . Secondly , the contract denier must prove that there is no consensus based on their own material and reasonable mistake . A reasonable mistake is one that is iustus ( thus the name of the doctrine ) .
The doctrine of consideration is the most important element of the contract law because if it does not exist, the enforceability of contracts in the eyes of law would not be possible.
WPI 301.01 (7th ed.) A contract is a legally enforceable promise or set of promises. [In order for a promise or set of promises to be legally enforceable, there must be [mutual assent] [and] [consideration].] Use this instruction when the existence of a contract or its terms is at issue.

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