Consideration in Contract Law: Historic and Contemporary Principles and Perspectives

In this innovative book, Mark Giancaspro examines the origins, functions, principles and legacies of the common law doctrine of consideration that regulates contractual exchange. Through a systematic analysis, he explores deep-rooted rules and current controversies in legal jurisdictions across the world.

Covering both the formation and renegotiation stage of a contract’s life, Consideration in Contract Law provides an overview of the history of the doctrine of consideration, as well as the related civil law doctrine of causa promissionis. Chapters review their core principles, and investigate how gifts can be distinguished from legal promises. Combining theoretical work with legal analysis, they set out how consideration can vary, for example through the existing legal duty rule and the practical benefit principle. The book also examines unique and novel forms of consideration, inspecting the legal sufficiency of natural love and affection, cryptocurrency, virtual property and lucky charms.

Providing crucial guidance on the purpose and influence of the doctrine of consideration, this book is an essential read for students and scholars of private law and contract law. It is also a valuable resource for judges and commercial lawyers seeking to understand and resolve consideration problems.