Alternatives
See also: Principles of European Contract Law and UNIDROIT Principles- Carlill v Carbolic Smoke Ball Co 1 QB 256, AL Smith LJ, ‘I understand that if there is no consideration for a promise, it may be a promise in honour, or a nudum pactum; but if anything else is meant, I do not understand it. I do not understand what a bargain or a promise or an agreement in honour is unless it is one on which an action cannot be brought because it is nudum pactum. In my judgment, this first point fails, and this was an offer intended to be acted upon, and, when acted upon and the conditions performed, constituted a promise to pay.’
- Antons Trawling Co Ltd v Smith 2 NZLR 23, Baragwanath J, ‘The importance of consideration is as a valuable signal that the parties intend to be bound by their agreement, rather than an end in itself. Where the parties who have already made such intention clear by entering legal relations have acted upon an agreement to a variation, in the absence of policy reasons to the contrary, they should be bound by their agreement.’
- UNIDROIT Principles (2004) Article 2.1.2 and 3.2
Read more about this topic: Consideration In English Law
Famous quotes containing the word alternatives:
“Clearly, society has a tremendous stake in insisting on a woman’s natural fitness for the career of mother: the alternatives are all too expensive.”
—Ann Oakley (b. 1944)
“The last alternatives they face
Of face, without the life to save,
Being from all salvation weaned
A stag charged both at heel and head:
Who would come back is turned a fiend
Instructed by the fiery dead.”
—Allen Tate (1899–1979)
“The literal alternatives to [abortion] are suicide, motherhood, and, some would add, madness. Consequently, there is some confusion, discomfort, and cynicism greeting efforts to “find” or “emphasize” or “identify” alternatives to abortion.”
—Connie J. Downey (b. 1934)