Consideration

Question 1

what is consideration

Answer 1

the thing each party puts into the contract, the benefit and detriment on both sides CURRIE V MISTA

Question 2

CHAPPELL v NESTLE

Answer 2

must be sufficient but need not be adequate

Question 3

WHITE v BLUETT

Answer 3

must be real meaning it must actually exist

Question 4

performance of an existing contractual duty

Answer 4

STILK v MYRICK- doing something you are already contracted to do is not good consideration

Question 5

exception 1 to POAECD

Answer 5

HARTLEY v PONSONBY- doing something extra is good consideration

Question 6

exception 2 to POAECD

Answer 6

WILLIAMS v ROFFEY- if the party gains an extra benefit this is good consideration

Question 7

past consideration

Answer 7

RE MCARDLE- not good consideration, consideration takes place before agreement is made, not a valid contract

Question 8

exception to PC

Answer 8

LAMPLEIGH v BRAITHWAITE- implied promise to pay before the consideration is done

Question 9

Part payment of a debt

Answer 9

PINNEL’S CASE- not good consideration, can still claim full amount even if agree to part payment

Question 10

exception 1 to PP

Answer 10

accepting something other than money

Question 11

exception 2 to PP

Answer 11

paying a smaller amount at a date earlier than originally agreed

Question 12

exception 3 to PP

Answer 12

repay part of debt on due date at different place as requested by the debtor

Question 13

promissory estoppel in PP

Answer 13

if you make a promise which another person relies on to their detriment then the promisor is estopped from breaking promise

Question 14

privity of contract

Answer 14

TWEEDLE v ATKINSON- only those who give consideration have rights under the contract

Question 15

exception to POC

Answer 15

CONTRACTS (RIGHTS OF THIRD PARTIES ACT) 1999- a person who is not a party to a contract can enforce the contract if he is named in the contract or gains a benefit from it