Course Outline, 1997
By Benjamin Neidl
is a legally enforceable promise or set of promises.
is a promise made in return for a
For instance, A promises to pay B $10 if B walks across a bridge.
B’s action is not a promise to walk across the bridge, it is the actual
of the bargained for activity.
is a promise made in return for a promise.
instance, A promises to pay B $10 if B
to walk across
Every agreement must have three elements in order to be a contract, and hence, in
order to be enforceable:
, in which the maker of the offer, or
, exhibits a
reasonable intent to be bound by a promise to the receiver of an offer, or
, in which the offeree agrees to the terms of the offer.
, which is reciprocity of inducement between the parties.
Basically, this means that both parties must be committing to something.
A mere promise made by one person to another seeking nothing in return
has no consideration, and there can be no contract.
Such promises made
without consideration are known as
Promises can sometimes be enforceable even where there was no contract, if the
receiver of the promise, or the
on the promise to his
This condition is known as
For instance, A promises B that B can come and live with A, rent free.
B sells his
house and goes to move in with A, but A has changed his mind.
There was no
contract here, because B offered nothing in return such that there was no
, but the promise would probably still be enforceable under the
because B reasonably relied on A’s promise, and
incurred loss in his reliance.
Although most contracts need not be written, some types must be evidenced by