Management and Organizational Studies 2275A/B Study Guide - Specific Performance, Consideration, Situation Two

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: All

Document Summary

Bargain theory each party gets something in return for other"s promise this for that. It can be many things money, promise to do something or not to do something, giving up a right, transfer of property. Consideration is related to a promise, otherwise a gratuitous act no contract. *a promisee is the party trying to enforce the promise must show consideration moved from her to the promisor obliges the promisor. Consideration defined as a benefit given to the promisor or detriment suffered by the promise. No consideration moves to the promisor in return for promise. Unless can show detriment (state of being harmed or damaged) as result of reliance (trust) on promise. Promisee undertook project on promisor"s promise to pay. Showed that promisee"s actions were the result of the promise i. e. small donation and the plaintiff likely would have undertaken work without particular promise. Donation was small so no consideration and no contract.