The Doctrine of Consideration in the Law of Contract: A Comparative Analysis of Common Law and Civil Law Legal Systems.

Abstract

This comparative analysis explores the doctrine of consideration in the common law and civil law legal systems. In common law jurisdictions, the doctrine of consideration is a fundamental principle in determining the enforceability of contracts. Under this doctrine, a contract is only legally binding if there is an exchange of something of value between the parties. However, the civil law system places less emphasis on consideration, and instead focuses on the intent of the parties and the overall fairness of the agreement. This paper compares and contrasts these two approaches, and considers the implications of the differences between them for the enforceability of contracts in each system. It also examines the criticisms of the doctrine of consideration, and explores potential reforms that could update the law and better reflect modern contractual practices. Overall, this paper provides valuable insights into the strengths and weaknesses of each approach, and highlights the importance of striking a balance between legal certainty and flexibility in contract law.