The Research On Consideration

The essence of the contract is the parties'autonomous means of planning the future behavior, and the aim of the contract law is to ensure the effective implementation of the contract by establishing a set of rules. In Anglo-American law of contract, of which promise is the centre, the main content of the contract law is which contracts could be enforced. The aim of the contract law is to distinguish the enforceable promises from unenforceable promises. The doctrine of consideration is a general standard used to distinguish the enforceable promises from unenforceable promises. It determines which informal contracts could be enforced. Since it developed from the forms of action at common law, the doctrine of consideration has gradually been systematized. As many exceptions to the rules of consideration developed, the doctrine met with the controversy on the reform and destiny of it. This essay attempts to disclose the future of consideration by analyzing its development.Following is the specific content and structure of this essay:the first part is an introduction. This part includes the significance and the research methods of this essay; The second part begins with the essence of contract and the aims of contract law, then regards the doctrine of consideration as the standard of the performance of promises. The third part is the historical origin of the doctrine of consideration. In this part the author finds the formal and substantial origins of the doctrine of consideration by researching the ancient forms of action at common law. The forth part is about the evolvement of the theoretical model of the doctrine of consideration. The theory experienced such a process that includes two phases:benefit-detriment theory in England and bargain theory in America. The fifth part is about the concrete rules under the title of the doctrine of consideration. The sixth part includes the functions of the doctrine of consideration and in this part the author analyses the controversy on the reform and destiny of it. The last part is the author's conclusion about this essay. The author points out that there is necessity for consideration's existence, and there is also necessity for its reformation.