vanspaendonck said:Do yourself a favour and stipulate that the laws of Transsilvania apply and all conflicts should be brought before the Grand Mufti of Zagreb or something....
juan said:feelings are all that matter.
juan
MattKing said:A contract signed under seal is said to supply its own consideration.
Matt
Roger Hicks that was the end it... [/QUOTE said:So to speak....
So what did it end up saying, Ole... "I take yur pictyure..OK? Sign here_____"Ole said:That made for a very short contract, but also one which is easily translatable and pays no special consideration to either country's special laws.
copake_ham said:4) Seals - quaint English common law concept. Perhaps still required in UK and Canada - not so in U.S. These days we close a transaction via a signature page exchanged via a scanned .PDF file.
George, since you passed the bar (and I only pass bars that serve alcohol) would you please comment on any legal assumpptions associated wit the term "valuable" when used with 'consideration'. Is a kopek and a smile really "valuable"?copake_ham said:"CONSIDERATION:
The inducement to a contract. The cause, motive, price or impelling influence which induces a contracting party to enter into a contract. The reason or material cause of a contract. Some right, interest, profit or benefit accruing to one party, or some forebearance, detriment, loss, or responsibility, given, suffered, or undertaken by the other."
Black's Law Dictionary, Sixth Edition, 1990
1) The above definition does not require, nor does it preclude, monetary remuneration.
MattKing said:Actually George, in the common law provinces of Canada, seals are almost never required, but in certain situations they are highly advantageous, so we use them.
We most often use seals when it is unclear whether there is an exchange of valuable consideration, and thus the enforceability of the agreement could be called into question. A model release is an excellent example - if the model isn't paid, and is otherwise receiving no benefit, there is a real argument that nothing of value has flowed to the model, so the "bargain" shouldn't be enforced.
The seals I use aren't fancy - they are little red stickers, about the size of a dime.
I use them regularly in my estates practice, because I have beneficiaries sign releases, and there is an argument that the inheritances they receive are rights that have vested previously, thus there is no new consideration flowing to them in return for the signed release, etc., etc. etc.
Of course, there are jurisdictions that have modified the common law rules concerning consideration by statute, but as far as I am aware, that is less common than you might think.
By the way, I find your reference to a "quaint English Common law concept" quite entertaining. One of the things that I've learned from doing some comparative legal research, is that very often the provisions in law in the older United States are older ("more quaint??") than the comparable provisions in English and Canadian law. That appears to flow from the fact that between the time of the American revolution (1776), when the USA took over responsibility for its own jurisprudence, and the creation of the Dominion of Canada (1867), when Canada took responsibility for its own jurisprudence, there was about 100 years of quite radical change in English law. In essence, our starting point was about 100 years later, and both of our systems of law still retain a lot from when we started.
Naturally, both systems have undergone hugely important changes in that time as well (e.g. your UCC) but there is still evidence of the differing roots.
The most obvious (as in regularly shown on TV) example - many of your states still use the grand jury in criminal proceedings. The grand jury was used in England in the 1700s, but by the time Canada got its own Criminal Code, it had fallen out of use, so it is essentially unknown in our law.
Matt
joeyk49 said:Could "valuable consideration" be a heartfelt "Thank You"???
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