Consideration Flashcards
Needed for contract
Offer
Acceptance
ITCLR
consideration
Defined in
Currie V misa
Defined as
Right interest or benefit accruing To 1 party with loss detriment or responsibility to the other
6 rule
Must be sufficient need not be adequate
Past consideration is not consideration
Instalments are consideration
Performance of existing duty is not
Extra or new duty is
Must move from promisee to promsior
Sufficient not adequate case
Thomas V Thomas - not be adequate as court will not interfere with bad bargain
What is sufficient
Chappell V nestle - sufficient as had economic value
Past consideration
No consideration under
Mac ardle
Exception to past consideration
Lampliegh V braithwaite
When payment can be implied into request
Consideration must move from promisee to promisor
Tweddle V airkenson
Instalments
A promise to accept part payment instead of entire existing dept is not consideration
Instalment case
Pinnel
Can claim remainder of dept
Part payment of debt and intesst
Foakes V beer
Interest can be added
Performance of existing duty
Not consideration
Merely doing one’s job
Performance of existing duty case
Stilk V myrick - merely doing one’s job
Collins V Godfrey- public duty as police
New or extra duty
Consideration is given
Hartley V poisenby - as role was made more dangerous
