CONTRACT LAW-SEMINAR 2
1) The normal contract with two parties is called a bilateral contract, and if there are more
parties is called a multilateral contract. However, unilateral contracts are where only one
party becomes bound to do anything; it can come in the form of ‘A promises to do X, if B
does Y’.
2) A) Vanita has to pay the reward as ben had taken the day off work to find and return her dog
and therefore, he had already accepted the offer.
b) Vanita does not need to pay Jim the reward as the reward was on the condition that
Nesbitt was returned and the dog was not Nesbitt.
c) Vanita needs to pay the reward to Douglas, although he was unaware of the offer, he still
returned Nesbitt which was her condition.
3) Consideration must be sufficient but need not be adequate. It means consideration must
have some values, whether it appropriates in order to meet the return of the agreement.
The things that they agree to make an agreement are not just simply in oral promises but
also in exchange of some value of the exchange. They would probably not need to have the
same value or equal value of the exchange in an agreement but the law will take it as a
consideration as adequate if the parties are agreed to the exchange.
1) The normal contract with two parties is called a bilateral contract, and if there are more
parties is called a multilateral contract. However, unilateral contracts are where only one
party becomes bound to do anything; it can come in the form of ‘A promises to do X, if B
does Y’.
2) A) Vanita has to pay the reward as ben had taken the day off work to find and return her dog
and therefore, he had already accepted the offer.
b) Vanita does not need to pay Jim the reward as the reward was on the condition that
Nesbitt was returned and the dog was not Nesbitt.
c) Vanita needs to pay the reward to Douglas, although he was unaware of the offer, he still
returned Nesbitt which was her condition.
3) Consideration must be sufficient but need not be adequate. It means consideration must
have some values, whether it appropriates in order to meet the return of the agreement.
The things that they agree to make an agreement are not just simply in oral promises but
also in exchange of some value of the exchange. They would probably not need to have the
same value or equal value of the exchange in an agreement but the law will take it as a
consideration as adequate if the parties are agreed to the exchange.
