Consideration: Difference between revisions
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imported>Doug Williamson (Clarify that the 'required element' relates to English law.) |
imported>Doug Williamson (Add link.) |
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A required element in a contract under English law by which something of value, including a promise, is exchanged for the act or promise of another. | A required element in a contract under English law by which something of value, including a promise, is exchanged for the act or promise of another. | ||
Note that other legal systems may differ significantly. | |||
For example in Scots law a unilateral undertaking that is intended to have legal effect, such as a promise, is legally binding (without the need for consideration to pass from the recipient of the promise). | |||
2. ''ACT Ethical Code.'' | |||
To act with courtesy and consideration is one of the principles of the ACT's Ethical Code. | |||
3. | 3. ''Behavioural skills.'' | ||
More generally, thoughtfulness and sensitivity towards others. | |||
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* [[ACT Competency Framework]] | * [[ACT Competency Framework]] | ||
* [[ACT Ethical Code]] | * [[ACT Ethical Code]] | ||
* [[Behavioural skills]] | |||
* [[Consensus in idem]] | * [[Consensus in idem]] | ||
* [[Contract]] | * [[Contract]] | ||
* [[Courtesy]] | * [[Courtesy]] | ||
* [[Pro bono]] | |||
* [[Quid pro quo]] | * [[Quid pro quo]] | ||
* [[Underwriting]] | |||
[[Category:Compliance_and_audit]] | [[Category:Compliance_and_audit]] | ||
[[Category:Ethics]] | [[Category:Ethics]] | ||
[[Category:Treasury_operations_infrastructure]] | [[Category:Treasury_operations_infrastructure]] | ||
Latest revision as of 02:07, 10 January 2022
1. Contract law.
A required element in a contract under English law by which something of value, including a promise, is exchanged for the act or promise of another.
Note that other legal systems may differ significantly.
For example in Scots law a unilateral undertaking that is intended to have legal effect, such as a promise, is legally binding (without the need for consideration to pass from the recipient of the promise).
2. ACT Ethical Code.
To act with courtesy and consideration is one of the principles of the ACT's Ethical Code.
3. Behavioural skills.
More generally, thoughtfulness and sensitivity towards others.
