One-sided contract modifications and the requirement of consideration

The parties to an existing contract may agree that the obligations of one party (but not of the other) are to be modified. For a long time, one-sided contract modifications were considered unenforceable for lack of consideration. It is now widely recognised that this approach fails to give effect to...

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Bibliographic Details
Main Author: Harder, Sirko
Format: Article in Journal/Newspaper
Language:English
Published: Lloyds of London Press Ltd 2019
Subjects:
K0600 Private law
KD0051 England and Wales
KE Law of Canada
KF Law of the United States
KL-KWK Asia and Eurasia
Africa
Pacific Area
and Antarctica
Canada
Pacific
Antarc*
Antarctica
Online Access:http://sro.sussex.ac.uk/id/eprint/80914/
http://sro.sussex.ac.uk/id/eprint/80914/1/S%20Harder%20%5B2019%5D%20LMCLQ%20138-161.pdf
Description
Summary:The parties to an existing contract may agree that the obligations of one party (but not of the other) are to be modified. For a long time, one-sided contract modifications were considered unenforceable for lack of consideration. It is now widely recognised that this approach fails to give effect to the parties’ autonomy and intention. Two alternative approaches have emerged across the common law world. One approach is to find consideration in a practical benefit obtained by the promisor. The other approach is to abolish the consideration requirement for contract modifications. This article investigates the merits of both alternative approaches.

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