decide what contracts should be subject to formal requirements. This can cause particular difficulties where contracts of different varieties with similar characteristics are subject to different rules as to form. For example, contracts of guarantee are very similar to contracts of indemnity, yet the latter may be made orally, whereas the former must be evidenced in writing. Accordingly, a number of very fine distinctions have grown up between the two types of contract in order to avoid the problem of unenforceability. CONSIDERATION : Since, for the most part, contracts do not have to take any particular form, some other means of distinguishing enforceable promises from the unenforceable has to be employed. For the purposes of English law, this mechanism is provided partly by the rules on consideration. The rule is that for a promise to be enforceable, consideration must be furnished by the

doi:10.4324/9781843141518-54

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decide what contracts should be subject to formal requirements. This can cause particular difficulties where contracts of different varieties with similar characteristics are subject to different rules as to form. For example, contracts of guarantee are very similar to contracts of indemnity, yet the latter may be made orally, whereas the former must be evidenced in writing. Accordingly, a number of very fine distinctions have grown up between the two types of contract in order to avoid the problem of unenforceability. CONSIDERATION

ABSTRACT

Since, for the most part, contracts do not have to take any particular form, some other means of distinguishing enforceable promises from the unenforceable has to be employed. For the purposes of English law, this mechanism is provided partly by the rules on consideration.11 The rule is that for a promise to be enforceable, consideration must be furnished by the promisee. Thus, if X promises to paint Y’s house and Y gives something or promises to refrain from doing something in return, there is consideration for X’s promise so that he is contractually bound to paint Y’s house.