Contracts Involve More than Promises, Promises

Author

Kee Yang LOW, Singapore Management UniversityFollow
Patricia Ong

Publication Type

News Article

Version

publishedVersion

Publication Date

1-1995

Abstract

You may have heard of the legal requirement that to enforce a contract, a person needs to show that he has given value; that he has given something in exchange for the promise. In legal terms, he must have provided consideration. Consideration involves the idea that the law only forces bargains where something is given for something, not bare promises. Yes, consideration is vital, as a recent Singapore Court of Appeal decision shows. In that case, the entitlement to more than S$100,000 in commission depended on the issue of consideration.

Discipline

Law

Publication

Business Times

Citation

LOW, Kee Yang and Ong, Patricia. Contracts Involve More than Promises, Promises. (1995). Business Times.
Available at: https://ink.library.smu.edu.sg/sol_research/427

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.