Contract law, specifically the principle of consideration, traces its origins to English common law in the 19th century. The landmark case of Currie v. Misa (1875) established that consideration is necessary for a contract to be enforceable, meaning that something of value must be exchanged between the parties. This requirement ensures that both parties have a mutual obligation, thus providing a basis for legal enforceability. Over time, the doctrine of consideration has been refined and remains a fundamental aspect of contract law in many jurisdictions.
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