St. Peter v. Pioneer Theater Corporation
(changes rule from benefit/detriment to bargained
for exchange)(adequacy of consideration)
FACTS
Case where bank lottery held and bank manager refuses to pay money to winner, arguing no
consideration because plaintiff didn’t pay anything and if there was consideration, there was
a lottery.
RULES
The sufficiency of consideration lies wholly within the discretion of the one who offers to
pay the prize.
ANALYSIS
-It doesn’t matter how insignificant the benefit may apparently be to the promisor or
how slight the inconvenience may be to the promisee.
-When a promisor makes a promise contingent on another performing an act
he is not legally obligated to perform, an affirmative act by a promisee constitutes
consideration.
-Promisor must honor all unilateral contracts he initiates even if benefit arising from
consideration is minimal.
-Consideration = signing register; waiting outside for prize.
---
Interested in learning how to get the top grades in your law school classes? Want to learn how to study smarter than your competition? Interested in transferring to a high ranked school?
(changes rule from benefit/detriment to bargained
for exchange)(adequacy of consideration)
FACTS
Case where bank lottery held and bank manager refuses to pay money to winner, arguing no
consideration because plaintiff didn’t pay anything and if there was consideration, there was
a lottery.
RULES
The sufficiency of consideration lies wholly within the discretion of the one who offers to
pay the prize.
ANALYSIS
-It doesn’t matter how insignificant the benefit may apparently be to the promisor or
how slight the inconvenience may be to the promisee.
-When a promisor makes a promise contingent on another performing an act
he is not legally obligated to perform, an affirmative act by a promisee constitutes
consideration.
-Promisor must honor all unilateral contracts he initiates even if benefit arising from
consideration is minimal.
-Consideration = signing register; waiting outside for prize.
---
Interested in learning how to get the top grades in your law school classes? Want to learn how to study smarter than your competition? Interested in transferring to a high ranked school?
No comments:
Post a Comment