Electronic transactions act 1999 cth provides

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Unformatted text preview: • In cases of agreements communicated by means of telephone, fax or email, the contract is formed when and where the offeror hears or receives the offeree’s acceptance • The Electronic Transactions Act 1999 (Cth) provides guidance on times for receipt and dispatch • See Latimer at ¶5-335 33 Consideration: what is it? 34 Consideration: what is it? • It is what the promisor gives in exchange for the return promise or the return action from the promisee • See Latimer ¶5-400 - ¶5-485 • “Something for something” • Consideration turns an agreement into a contract • Concept of VALUE • Failure of consideration can make an agreement unenforceable • BUT can be broader than just ‘price’ Can include acts, promises etc 35 36 Rules for Consideration Rules for Consideration 1. Consideration is essential to the validity of every simple contract • It may be: something the promisee gives the promisor the carrying out of some act or the refraining from doing something that the promisee had a legal right to do • Cases: Dunlop Pneumatic Tyre Co Ltd v Selfridge and Co Ltd; Coulls v Bagot’s Executor and Trustee Co Ltd • See Latimer ¶5-405 2. Consideration must not be past • Past Consideration occurs where a promise is given after an act has been performed This is generally not enforceable If consideration is given BEFORE the contract is created, it is not good consideration • Cases: Roscorla v Thomas, Latimer ¶5-410 37 37 38 Rules for Consideration Rules for Consideration • BUT: past consideration can be good consideration Therefore: Consideration must be • If it was provided at the request of the promisor and it can be shown that: Present (executed) consideration which is an act done ‘now’ in return for a promise when the act is completed: see Latimer at ¶5-430 the act was done at the promisor’s request the parties understood that the act would be re...
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