公司法和商法(雙語(yǔ))講義第7章CorporateandBusinessLawChapter7

公司法和商法（雙語(yǔ)）講義第公司法和商法（雙語(yǔ)）講義第7章CorporateandBusinessLawChapter7公司法和商法（雙語(yǔ)）講義第公司法和商法（雙語(yǔ)）講義第7章CorporateandBusinessLawChapter77ConsiderationDefinitionsItistheelementofvalueintheagreement.Bothpartiesmustbringsomethingofvaluetotheagreement.E.g.AsellsBacarfor￡1.AandBarebothprovidingvalue.‘Anactorforbearanceofonepartyorthepromisethereofisthepriceforwhichthepromiseoftheotherisboughtandthepromisethusgivenforvalueisenforceable’:DunlopvSelfridge.RulesofconsiderationOverviewMustbeprovidedbybothparties(unlessintheformofdeed).(a)Maybeexecuted:anactinreturnforapromise.Executory:apromisegivenforapromise.Mustnotbeinthepast:ReMcArdle.Anexceptioniswherethereisanimpliedpromisetopay:LampleighvBraithwait.公司法和商法(雙語(yǔ))講義第7公司法和商法(雙語(yǔ))講義第7章CorporateandBusinessLawChapter7公司法和商法（雙語(yǔ)）講義第公司法和商法（雙語(yǔ)）講義第7章CorporateandBusinessLawChapter7PrivityofcontractOnlyapartytoacontractmaysueonthatcontract-PrivityofContract'.Dunlopv.Selfridge.Thereareanumberofexceptions:personsentitledtobenefitunderthirdpartymotorinsurancecansuetheinsurerdirectly:RoadTrafficAct1972.aprincipalwherehisagentwasthepartyenteringintothecontract.aspecialrelationshipexistsbetweentheparties(egactingasexecutorofadeceased'sestate).wheretherehasbeenanassignmentofthebenefitofthecontract.Theburdencanonlybeassignedwiththeconsentoftheotherparty.AlsobeawareofContracts(RightsofThirdParties)Act1999.Thishasafundamentaleffectontheruleofprivityofcontractandsetsoutthecircumstancesinwhichathirdpartymayenforceacontractterm.thethirdpartymustbeexpresslyidentifiedinthecontract.thecontractmustgiveanexpressorimpliedrighttothethirdpartytoenforcetheterm.DoctrineofconsiderationOverviewCONSIDERATIONNEEDNOTBEADEQUATEBUTMUSTBESUFFICIENT

INSUFFICIENTCONSIDERATIONDEFINEDAS:ExceptionsPerformanceof

existingcontractual

obligation ExceptionsNeednotbeadequate,butmustbesufficient:ChappellvNestle.Thelawdefineswhatwillbeinsufficient.PerformanceofanexistinglegalorcontractualobligationisinsufficientconsiderationtosupportapromiseofadditionalrewardStilkvMyrickunless:MorethanexistingdutiesareperformedHartleyvPonsonby;orBothpartiesderiveabenefit,providednoduressorfraudWilliamsvRoffeyBros&Nicholls(Contractors)Ltd.Partialperformanceofanestimatinglegalorcontractualobligationisinsufficientconsiderationtosupportawaiveofcontractualorlegalrights.Overview:INSUFFICIENTCONSIDERATIONTOSUPPORTAWAIVEROFCommonlaw

exceptionsCONTRACTUALORLEGALRIGHTSCommonlaw

exceptionsDoctrineof

promissory

estoppelRuleinPinnell'sCase,FoakesvBeerUnless:Paymentmadeotherthanincash;paymentmadebeforeduedate;paymentmadeatotherthanagreedlocation;paymentismadebyathirdparty.Equitabledoctrineofpromissoryestoppelapplies.CentralLondonPropertyTrustvHighTreesHouseandD&CBuildersv.ReesPromissoryestoppelIfthedoctrineofpromissoryestoppelappliesthenthecreditormaybeestoppedfromsuingforthebalanceoftheoriginaldebt.Thedoctrinemayapplyif:the creditoragreestoacceptpartpaymentinfullandfinalsettlementofadebt;andthe creditorintendsthatthedebtorwillrelyontheagreement