Диссертация (972076), страница 43

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$25 000 upon the first DVD release of the film to the public in the USAExplain the meaning of the phrase in consideration of.Exercise 4. KEY VOCABULARY: Study the following vocabulary items.1.2.3.considerationvaluableexecuted considerationexecutory considerationsufficient considerationgood considerationconsideration of economic valuepast considerationadequate considerationto provide considerationto constitute considerationquid pro quo (Latin)a promisea gratuitous promiseвстречное удовлетворениенадлежащее встречное удовлетворениеисполненное встречное удовлетворениеc исполнением в будущемдостаточное встречное удовлетворениеюридически действительноеимеющее экономическую ценность встречноеудовлетворениепредшествующее встречное удовлетворениесоразмерное встречное удовлетворениепредоставить встречное удовлетворениесоставлять встречное удовлетворениеуслуга за услугу, компенсация, квипроквообещаниебезвозмездное обещание2484.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.an illusory promiseto enforce a promiseto make a promiseto break a promisea promisora promisetangible propertyintangible propertyto give a benefit to smb.to provide a benefit to smb.a detrimentto provide a detrimentto suffer a detrimentto waive a rightwaiver of a rightforbearanceмнимое обещаниепридать исковую силу обещаниюдавать обещаниенарушать обещаниедолжник по договорукредитор по договоруматериальное имуществонематериальное имуществопредоставить выгоду кому-либоущербнанести ущербпонести ущерботказываться от права, требованияотказ от права, требованияотказ от применения принудительных(судебных)мерпротивкого-либо;forbear (forbore, forborne)сдерживаться, воздерживаться от (какоголибо действия)a claimant / a plaintiffистецa defendantответчикto be enforceable at law/inиметь исковую силу по законуto amount to (a great sum/a small составлять что-либо (большую сумму/loss)небольшой убыток)to have a (valid) claim against smb.

иметь обоснованный иск против кого-либоto be legally validиметь юридическую силу; быть юридическидействительнымto bring proceedingsначать судебное разбирательствоto transpireстановиться известным, обнаруживатьсяa bill of exchangeпереводной вексельantecedent debt or liabilityпредшествующий, предыдущий долг илиобязательстваto claim relief(по)требовать возмещениеdoctrine of detrimental relianceдоктрина обманутого доверияpromissory estoppelлишение права возражения на основанииданного обещанияExercise 5. Pronounce the following words:quid pro quoillusorygratuitousadequateforbearanceestoppel[][[[]]][][]249 READINGExercise 6. Read through the text quickly and match the questions (a-e) with the paragraphthat answers them (I - VI).a)b)c)d)e)Is a promise not to enforce a lawsuit good consideration? –What forms can consideration take? –In what type of a contract does unilateral consideration occur? –What are the elements of promissory estoppel? –Is consideration a benefit or a detriment for a promisee? –CONSIDERATION AND DETRIMENTAL RELIANCEI.

What is consideration?In English law, an agreement is not usually binding unless it is supported by what is calledconsideration. (For example, gifts are not considered contracts since there is no consideration).Consideration can be defined as a bargained-for exchange of legal value given in return for aperformance or promise of performance so that a contract can be formed.Consideration is based on the idea of quid pro quo [“something for something”].This means thateach party must give something in return for what is gained from the other party - if you wish toenforce someone's promise to you, you must prove that you gave something in return for that promise.II. What can be consideration?Consideration for entering a contract can be:1.

an amount of money;2. a right or a waiver [voluntary giving up, relinquishment or surrender of some right]of the right;3. tangible property [real or personal property] or intangible property [patents and copyrights];4. a thing or a service – I give you my car and you give me $1,000 or you clean my windowsand I pay you $5;5. forbearance [abstention from or postponement of the enforcement of a legal right]6. promise to act or not to act - I promise to work for you and you promise to pay me a salaryor I promise you $100 if you do not smoke.As we have learned, consideration is a promise or action that one person (the promisor) gives inexchange for the promise or action of another person (the promisee). In most contracts, two promiseswill be exchanged, so each party is both a promisor and a promisee.

In a contract case, the claimantwill often be arguing that the defendant has broken the promise made to the claimant, and thereforethe claimant will usually be the promisee, and the defendant will be the promisor. Considerationconstitutes a benefit for the promisee and a detriment to the promisor.Naturally or physically impossible consideration makes a contract void. A promise to do what oneis already bound to do (by law or by contract) or to carry out a moral obligation is not consideration.Consideration does not exist if the promise made by the promisee is illusory. (The promise is illusoryif the promisee maintains an unlimited right to cancel a contract at any time and for any reason).A promise not supported by consideration is called a gratuitous promise; for example, I simply say“I will give you my car”, without requiring anything in return.

This type of promise is not usuallyenforceable at law. Due to that reason (lack of consideration) gifts are usually not consideredcontracts.II. “Executory” and “executed” consideration.Consideration is often divided into two categories: executory and executed. Executoryconsideration is where something is to be done in the future after the contract has been formed.Executory consideration exists when the contracting parties make promises to each other becausethey are promising something for the future, after the contract has been made - on making the contract250you promise to deliver some goods to me and I promise to pay for them when they arrive, for example.A bilateral contract usually involves executory consideration.Executed consideration is where at the time of the formation of the contract the consideration hasalready been performed.

If I promise to give $20 to anyone who finds my lost handbag, returning thebag is both acceptance of my offer (and thus the time when the contract is formed) and executedconsideration for my promise. Executed consideration usually occurs in unilateral contracts.III. Requirements to consideration.1). _________________________This principle is usually described in the rather confusing phrase “consideration must be sufficientbut need not be adequate”, which means that the courts will not inquire into the adequacy ofconsideration, so long as there is some. Providing something is given in return for a promise, it doesnot matter that it is not much, or not what the promise would usually be considered to be worth.

Soif, for example, A promises to sell В her state-of-the-art CD player for $5, the consideration paid byВ clearly provides very little benefit to A, and amounts to only a small loss to B, but nevertheless, thetransaction will be binding because some consideration has been provided by both sides. It is oftensaid that just one peppercorn can be good consideration - even if the promisee does not like pepper!The reason for this rule is the old idea of freedom of contract, which required that the partiesthemselves should be allowed to make the bargains that suit them, without interference from thecourts.However, the agreement to pay a small amount of money in return for a larger amount of moneyis not enforceable; this is merely an agreement to make a gift of the difference.

Thus, if a person wereto accept $10 for $100 debt immediately due, the agreement would be to make a gift of $90. Usuallya promise to make a gift is not consideration.2). ____________________________It is said that consideration must have some “economic” value. What this principle seems to meanis that there must be some physical value, rather than just an emotional or sentimental one. In Whitev Bluett (1853), a father promised not to make his son repay money he had borrowed, if the sonpromised not to keep boring him with complaints.

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