3 ms·
contracts need three elements, (1) a meeting of the minds (the parties need to agree what the contract is about), (2) and exchange of consideration (including o
by fsckboy 4y ago
contracts need three elements, (1) a meeting of the minds (the parties need to agree what the contract is about), (2) and exchange of consideration (including of a peppercorn), and those two are not enough, one of the party needs to act on the contract showing (3) reliance. (and contracts need to entail legal activities)
IANAL but maybe you aren't either, and the discussion of reliance that you link to does not mean the other elements of the contract don't need to also be in place unless you specifically know otherwise.
IANAL but the "doctrine of reliance" is not a doctrine on its own afaik, it's one of the three elements of a valid contract.
- gnicholas 4y ago(IAAL, FWIW) Section 90 reliance is a separate doctrine that doesn't require consideration flowing in both directions — that's the whole point of it. I may be misremembering Contracts class (it was almost 20 years ago!), but I'm pretty sure on this one.