Consideration is an ancient element of contracts arising from the English Crusad

Question

Consideration is an ancient element of contracts arising from the English Crusades during which gifts had to be given to local warlords in the middle east just for the ability to negotiate with the local leaders by the English Knights. Some courts no longer recognize the requirement as being outdated and difficult to quantify in modern transactions. Do you feel Courts should still invalidate contracts if consideration cannot be specifically identified in the exchange between the parties? Why or why not?

Explanation / Answer

In my opinion, courts should still invalidate contracts if consideration cannot be specifically identified because consideration plays an important role in avoiding fraud in contract performance. Consideration helps to ensure the exchange of value in return for a promise or performance and if the courts enforce contracts without consideration, it may affect the intended contract performance. The parties may act fraudulently if there is no clear understanding on the value exchange and it will be difficult to take decision on the damages if the consideration is not specifically identified for a particular contract.

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