COMM 393 Lecture Notes - Lecture 5: Objective Test, Quantum Meruit, Estoppel
Document Summary
Bargain where one party pays a price for the promise obtained from the other party. Consideration the price paid for each party"s promise is the promise of the other. Is the mutual exchange of promises (bilateral contract) or a promise for an act/service (unilateral contract) Gratuitous promise a promise made without bargaining for or accepting anything in return. 3 does not become a contract not enforceable in law if promise performed, duty to use reasonable care: may be found liable for damage under torts, defence of no consideration not valid. Courts will not judge what is good/bad consideration in a contract so long as consideration is present. Unless there is evidence of undue influence, fraud, or duress, in the case of gross inadequacy on the promisor. Courts are concerned with protecting interests of consumers from unconscionable conduct. Moral cause moral duty of promisor to perform his promise. Past consideration a gratuitous benefit previously conferred upon a promisor.
