The Enigmatic Dichotomy of Express and Implied In Law and Equity of Consideration
contract judiciary advanced doubtYaar samajh nahi aaya! I'm stuck between two concepts in Contract Law that seem to blend into each other like a Bollywood masala flick. We all know that consideration is an essential element of a valid contract, but what's the difference between consideration in Law (express) and consideration in Equity (implied)?
In Law, it's all about express consideration - something tangible or specific, like money or a promise to do something. But in Equity, it's all about implied consideration - something that can be inferred, like an obligation that arises from the contract itself. Please help me understand, how can I differentiate between the two? Are they like two opposing sides of the same coin, or something more nuanced?
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Arre yaar, I think this dichotomy is way overhyped. Express consideration is just a fancy way of saying 'we got a deal in writing'. Implied, on the other hand, is more nuanced and dependent on the circumstances. I think it's unfair to say they're mutually exclusive. In fact, a good contract often combines both. Let's not overcomplicate things, jaan!