Consideration

Question 1

Define consideration

Answer 1

Consideration was defined in Currie v Misa as some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other

Question 2

Past consideration

Answer 2

A rule of consideration is that consideration must not be past consideration. This means that any consideration must come after the agreement rather than being something that has already been done.

Question 3

Thomas v Thomas

Answer 3

Consideration must be sufficient but need not be adequate

Question 4

Re McArdle

Answer 4

The work had already been completed before the promise to pay was made so there was no consideration.

Question 5

For consideration to be valid

Answer 5

For consideration to be valid it must be sufficient but not adequate (Thomas v Thomas)

Question 6

Lampleigh v Braithwaite

Answer 6

Past consideration can be valid if it was done at the promisor’s request and payment was implied

Question 7

Roscorla v Thomas

Answer 7

Past consideration is not valid.