The element of consideration in forming a valid contract has been subject to great discussion and debate as to its real significance and its role played in the law of contracts.

Evolution of the article of faith of Consideration

        To gain a better understanding of term and its current standing, it is useful to look at its evolution and historical development. Many trace the beginnings of consideration to the 16th century, however take down as far back as the origin and plump for centuries Roman Law had several procedures in place cognise as condictiones. These were actions for the recovery of money or property. One of the approximately important of these was an action called condictio causa dada causa non secuta (recovery for something stipulation on a basis, that basis failing). This doctrine held that money or property could be said to be based on what is good and fair and at that placefore, it could be said that the rationale was that it was non fair that X could retain a benefit conferred by Y without providing any of the agreed counter performance. It is from these humble beginnings, doctrines of affliction of consideration welcome developed.

In English law, the doctrine of consideration first began to take real shape in the late sixteenth century in its relationship to assumpsit. It started out with the very everyday definition, being a reason for enforceability.



It was in the case of stone pit v Wythipol where it was established that that for consideration to suffice, it was to involve benefit to the promiser and/or detriment to the plaintiff. Modification this rule since took place to aggrandize modern day standards. To further the rules established in fossa v Wythipol, consideration was also said to exist if there was the component of something which might be categorised as the price, stipendiary by the promisee for the promise. And so further development in the doctrine of consideration such as the term price have allowed for a broadening in its use.

        Despite English law...

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