Influence of The Case
Hamer is very common reading in first-year contracts courses at American law schools. The view of contracts operative in Hamer was grounded in a particular theory of consideration, the "benefit-detriment theory" (as exemplified in the Exchequer Chamber's 1875 definition). However, since the early 20th century (especially as embodied in the First and Second Restatements of Contracts), a dominant view has been the "bargain theory." According to the "bargain theory," a typical contract must consist of a bargained-for exchange where the consideration offered by one party (promisee) induces the making of a promise by another party (promisor), and the promisee, having been induced by the promise, gives this consideration. Thus Hamer was decided on the basis of a legal theory that has largely been replaced or supplemented by newer theory, meaning that similar cases may be viewed differently by contemporary courts.
Read more about this topic: Hamer V. Sidway
Famous quotes containing the words influence of the, the case, influence of, influence and/or case:
“The example of America must be the example, not merely of peace because it will not fight, but of peace because it is the healing and elevating influence of the world, and strife is not. There is such a thing as a man being too proud to fight. There is such a thing as a nation being so right that it does not need to convince others by force that it is right.”
—Woodrow Wilson (1856–1924)
“Chile consents to do all we can reasonably demand. My regret is that our Government blustered and bullied. President [Benjamin] Harrison argued in his message like a prosecutor—made the most of the case against our weak sister. Forbearance, charity, friendship, arbitration should have been in our words and thoughts.”
—Rutherford Birchard Hayes (1822–1893)
“If the dignity as well as the prestige and influence of the United States are not to be wholly sacrificed, we must protect those who, in foreign ports, display the flag or wear the colors of this Government against insult, brutality, and death, inflicted in resentment of the acts of their Government, and not for any fault of their own.”
—Benjamin Harrison (1833–1901)
“Women stand related to beautiful nature around us, and the enamoured youth mixes their form with moon and stars, with woods and waters, and the pomp of summer. They heal us of awkwardness by their words and looks. We observe their intellectual influence on the most serious student. They refine and clear his mind: teach him to put a pleasing method into what is dry and difficult.”
—Ralph Waldo Emerson (1803–1882)
“When a thing is said to be not worth refuting you may be sure that either it is flagrantly stupid—in which case all comment is superfluous—or it is something formidable, the very crux of the problem.”
—Miguel de Unamuno (1864–1936)