合同法对价研究.ppt

* Chapter 2 The Law of Contract Consideration 对价 * Facing a Legal Problem Antonio says to his son, “When you finish painting the garage, I will pay you $100.” Antonio’s son paints the garage. The act of painting the garage is the consideration that creates the contractual obligation of Antonio to pay his son $100. If, instead, Antonio had said to his son, “In consideration of the fact that you are not as wealthy as your brothers, I will pay you $500,” would this promise have been enforceable? * Definition of Consideration Something of legal value given in exchange for a promise * Requirements of Consideration (1) something of legal value must be given (e.g., either a legal benefit must be received or legal detriment suffered) (2) there must be a bargained-for exchange. * Gift Promise An unenforceable promise because it lacks consideration To change a gift promise into an enforceable contract, the promisee must offer to do sth. in exchange---consideration---for the promise. * Case 2-2 Alden v. Presley Elvis Presley, a singer of great renown and a man of substantial wealth, became engaged to Ginger Alden. He was generous with the Alden family, paying for installing a swimming pool, … and making other gifts. When his fiancee’s mother, Jo Laverne Alden, sought to divorce her husband, Presley promised to pay off the remaining mortgage indebtedness of the Alden home, which Mrs. Alden was to receive in the divorce settlement. On August 16, 1977, Presley died suddenly, leaving the mortgage unpaid. When the legal representative of Presley’s estate refused to pay the $39,587 mortgage, Mrs. Alden brought an action to enforce Presley’s promise, the trial court denied recovery. Mrs. Alden appealed. * Key question: Was Presley’s promise to pay the mortgage enforceable? * Under contract law, gift promises are unenforceable because they lack consideration. The court found that plaintiff Alden had n