Among all the doctrines of contract law, perhaps the most academic ink has been spilt on the doctrine of consideration. Broadly, consideration is a benefit (or detriment) provided or suffered by one party, in exchange for the other party entering into the contract.
The Limits to Freedom of Contract: Leiman, Ricardo and another v Noble Resources Ltd and another [2020] SGCA 52
In line with the principle of freedom to contract, the courts will give effect to the intention of the parties in creating their contract, and also hold them to their duty to perform their primary obligations under such contract. However, where the contracting parties agree to vest certain decision-making powers to a specific (non-judicial) entity, to what extent may a court review the exercise of powers by such entity?
