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)
“The Spirit of Place [does not] exert its full influence upon a newcomer until the old inhabitant is dead or absorbed. So America.... The moment the last nuclei of Red [Indian] life break up in America, then the white men will have to reckon with the full force of the demon of the continent.”
—D.H. (David Herbert)
“Unaffected by “the march of events,”
He passed from men’s memory in l’an trentiesme
De son eage; the case presents
No adjunct to the Muses’ diadem.”
—Ezra Pound (1885–1972)