MGMT 2021 Business Law - Summer 2022 - Assignment #1

Closed- 18^th June 11.55 PM EC time

ONE Question Only. (Answer both part A and B)

(a) Consideration can be defined as "something of value in the eye's of the law", but consideration is not a critical factor factor to any contractual obligations and as such, it has to be ignored in any contract.

Critically discuss this statement, with the following requirements;

1. Five (5) applicable case laws on the subject matter.
2. State clearly

• The issue
• Basic facts of the Cases
• The Judgement (20 marks )

(b) With respect to the doctrine on Consideration, Past Consideration is 'irrelevant'

Critically discuss this statement, with the following requirements;

1. Three (3) applicable case laws on the subject matter
2. State clearly

• The issue
• Basic facts of the Cases
• The Judgement (20 marks )

Total (40 marks )

Note.

• You cannot copy and paste the various cases.
• You are required to discuss via a few paragraphs, what was the issue, basic facts and the judgement.
• Conclude by applying the mentioned cases to the issue at hand in respect of question (a) and (b) above.