revision Sports-Contract Consideration (1)

revision Sports-Contract Consideration (1) - Running Head...

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Running Head: Contract Consideration 1 Sports: Contract Consideration Institutional Affiliation Name
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CONTRACT CONSIDERATION 2 During a sports contract, a one-sided promise such as a gift is common in law; however, a consideration needs to be something based on the exchange of promises by both contracting sides. Each party needs to receive mutual benefits, or both suffer a loss depending on the terms of their contract (Russell, 2012). The consideration needs to be valuable in the eyes of the law and of benefit to both sporting parties; hence, this excludes a gift since it is not an exchange of promise, an offer, nor a consideration but it is more of a favor from one party (a one-sided promise), and is not supported by sports law as a consideration. In a sports contract, the promiser exchanges one consideration in return of another from the pledge. Therefore, consideration needs to be something of value to both parties, and agreeable when making a contract. A gift cannot be a valid consideration by law because it holds
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