CONSIDERATION OF CONTRACT IN ENGLISH LAW & LAW OF BANGLADESH: A COMPARATIVE STUDY

To make an agreement consideration is essential. An agreement which is enforceable by law is called contract. However, in English law, the ample interpretation regarding consideration makes confusion. The practical benefit, legal benefit, factual benefit or detriment of a person is consideration or not, is under a question mark. It is now, however, up to the discretion of a competent court whether an act amount to be a consideration or not. For the reason in England there is no statutory existing law in order to define consideration. A pre-existing duty exist to a parson is not amount to be a consideration. However, there is no specific criterion to define pre-existing duty. In some cases, English common law amalgamated the pre-existing duty with consideration. Even though it has separate meaning from consideration. Nevertheless, some unorthodox interpretation regarding consideration negates the necessity of consideration for make a contract. So the future of English contract law regarding consideration is endangered. Albeit, the rules regarding consideration such as sufficiency of consideration is remain intact. Nonetheless, the contract laws in England vis-a-vis the rule of past consideration, consideration move from promisee have some contradiction with the existing statutory law of Bangladesh.