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, influence and/or case:
“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)
“Concord River is remarkable for the gentleness of its current, which is scarcely perceptible, and some have referred to its influence the proverbial moderation of the inhabitants of Concord, as exhibited in the Revolution, and on later occasions.”
—Henry David Thoreau (1817–1862)
“There are a great many of these accusers, and they have been accusing me now for a great many years, and what is more, they approached you at the most impressionable age, when some of you were children or adolescents; and literally won their case by default, because there was no one to defend me.”
—Socrates (469–399 B.C.)