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executory consideration - types of considerationalthough executory consideration consists of a promise made about one party and a promise made
consideration - element of contractjust to an agreement to constitute a contract the common law of the england then adopted in the us requires such
detriment as consideration an example of a detriment that will legally suffice like the consideration for a promise is provided with the case of
contractual capacity of corporationshowever the courts have developed known as the doctrine to ultra vires in order for determines the contractual
contractual capacity of persons of unsound mindfurthermore a contract entered into through a person of unsound mind is voidable on his option whether
important points - contractual capacity of drunken personshere the following points should be notice for as ratificationwell a drunken man who enters
contractual capacity of drunken personswhether a person purported to enter with a contract at a time at what time he was too drunk to understand then
subrogation - void contracts however in re national permanent benefit building society would the court stated that where an infant
loans given for necessaries - void contracts it may happen that an infant asks someone to a loan for buy necessaries like school
loans - void contractshowever all loans made for an infant are void and irrevocable since in leslie ltd v sheill the infant defendant had
void contracts - law of contractwhereas the infants relief act 1874 of the uk applies to the us as a statute of general application such was in
purchase of shares - voidable contractshowever an infant who applies to is allotted a companys shares becomes a member to the company under s28 2 for
partnership agreement - voidable contractsconversely an infant is bound at common law through a partnership agreement although he is free to
leases - voidable contractshowever a lease granted to an infant is binding on him unless he repudiates it then within a reasonable time after
beneficial service - binding contractsaccording to such a contract relates service or apprenticeship is such binding on an infant - which mostly
necessaries - binding contractsdefinition of necessaries cleared by s 42 to the sale of goods act like goods appropriate for the condition in life of
capacity - element of contractcapacity to contracthowever capacity may be described like the legally documented right of a person to enter with a
provisional contracts - law of contracthowever occasionally an agreement may be illustrated through the parties thereto as being as a provisional
acceptance - law of contract conversely an offer made to the general public can be established through anybody who fulfil that performs then the
acceptance - element of contracthowever this is the external manifestation about assent through the offeree regarding to acceptance an agreement
insanity and rejection - termination of an offerinsanityfurthermore the unsoundness of mind about either party before acceptance terminates the
counter - offer and death - termination of an offercounter - offerhowever a counter - offer is constituted through the offerees qualified acceptance
lapse of time - termination of an offertherefore offer of lapses that ie comes for an end robotically through operation about law whenever like first
termination of an offer - revocation such offer is revoked whether the offeror changes his thinking and withdraws it as for expressly or
rules relating to an offer - law of contracthowever the case law relating to an offer has established the following rules1 such offer may be oral