Of What Practical Benefit Is Practical Benefit to Consideration?(Law of Contract‪)‬

INTRODUCTION Modification of ongoing contractual transactions is an everyday occurrence both in commercial and consumer contracts, especially consumer contracts involving the provision of services to consumers, as well as in relation to contracts of employment whose terms inevitably change over time. Differences of opinion between parties to these agreements as to precisely what was promised by one party to the other by way of modification is inevitable as is the possibility that one party might make a promise to modify an obligation and then renege on that promise once the other party has performed by declining to pay. Thus, the reluctance of courts to enforce modified promises is understandable from a non-legal perspective, and notwithstanding the commercial frequency and social desirability of permitting parties to adjust their contractual relationships to changed and unforeseen circumstances.