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An example of a nudum pactum would be an offer to sell something without a corresponding offer of value in exchange. While the offer may bind a person morally, since the offer has not been created with any consideration, it is gratuitous and treated as a unilateral contract. The offer is therefore revocable at any time by the offeror before ...
Pre-existing duty rule. The pre-existing duty rule is an aspect of consideration within the law of contract. Originating in England the concept of consideration has been adopted by other jurisdictions, including the US. In essence, this rule declares that performance of a pre-existing duty does not amount to good consideration to support a ...
Assignment (law) Assignment[a] is a legal term used in the context of the laws of contract and of property. In both instances, assignment is the process whereby a person, the assignor, transfers rights or benefits to another, the assignee. [1] An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee.
Contract law. In contract law, an illusory promise is one that courts will not enforce. This is in contrast with a contract, which is a promise that courts will enforce. A promise may be illusory for a number of reasons. In common law countries this usually results from failure or lack of consideration (see also consideration under English law).
Consideration is the central concept in the common law of contracts and is required, in most cases, for a contract to be enforceable. Consideration is the price one pays for another's promise. It can take a number of forms: money, property, a promise, the doing of an act, or even refraining from doing an act. In broad terms, if one agrees to do ...
Board of Education of Oklahoma City v. Dowell. Supreme Court of the United States. Argued October 2, 1990. Decided January 15, 1991. Full case name. Board of Education of Oklahoma City Public Schools, Independent School District No. 80, Oklahoma County, Oklahoma v. Robert L. Dowell, et al. Citations.
Contract law. The title-transfer theory of contract ( TTToC) is a legal interpretation of contracts developed by economist Murray Rothbard and jurist Williamson Evers. The theory interprets all contractual obligations in terms of property rights, [1] [2] viewing a contract as a bundle of title transfers. According to Randy Barnett, the TTToC ...
House BiIll 3071, by Checotah Republican Rep. Neil Hays, restricts the use of state dollars to support Oklahomans living in the country without legal permission. It passed the House on March 14 ...