Consideration Flashcards
When should consideration be considered
Once their is an agreement between the parties
What case would you use for when consideration is considered
Currie v Misa
What did Lord Dunedin state in the case of Dunlop v Selfridge limited
Each party must give something in return for what is gained by the other party (something of value)
What are the 5 rules of consideration
Consideration need not be adequate but must be sufficient
Past consideration is not good consideration
Consideration must move from the promisee
Performing an existing duty cannot be the consideration for a new contract
A promise to accept part payment of a pre-existing debt in place of the whole debt is not consideration
What does consideration need not be adequate but
must be sufficient mean
It must have some value
What case would you use for consideration need not be adequate but must be sufficient
Thomas v Thomas
Does consideration need to be money in order to be sufficient
No- anything of value is sufficient
What case would you use for it does not have not be money just anything of value is sufficient enough
Chappell v Nestle
What does past consideration is not a consideration mean
Consideration must be given in return for the promise
What case would you use for past consideration is not consideration
Re McArdle
What is an exception is not a consideration
Where it is at the promisor’s request and that payment will be made later
What case would you use for consideration must move from the promisee
Tweddle v Atkinson
What did the Jackson v Horizon Holidays state
If claiming for a group, the lead booker can claim for all those involved
What are the 3 pre-existing duties that cannot be a consideration for a new contract
Public duty, contractual and a promise to make a payment already
What case would you use for public duty in performing an existing duty cannot be the consideration for a new contract
Collins v Godefroy
What case would you use for contractual in performing an existing duty cannot be the consideration for a new contract
Stilk v Myrick
What case would you use for a promise to make a payment already in performing an existing duty cannot be the consideration for a new contract
Williams v Roffey bros
What is part payment regarding consideration
It is not a consideration as it is just a mere agreement to have some payment
What happens when an agreement is made before deadline day in part payment
It may be valud consideration
What happens when an agreement is made on the day of debt in part payment
It will not amount to consideration and they can still claim the debt at a later date
What case would you use in part payment for consideration
Pinnel’s case
