consideration Flashcards
what is consideration
consideration is the price to buy the promise: DUNLOP V SELFRIDGE
something about the two types
uncomplete
what must be exchanged
consideration must be sufficient in that something of legal value has been exchanged. mere sentiment is not sufficient consideration: WHITEV BLUETT
where must consideration move from
consideration must move from the promisee: TWEDDLE V ATKINSON
past consideration
there must not be past consideration. consideration must be given in exchange for the promise, rather than being something that has already been done: RE MCARDLE
sidestep for the past consideration rule.
there is a way that the court can sidestep the past consideration rule. this occurs when D has asked C to perform a service and, although payment is not mentioned at the time it is implied that the service will be paid for. if d later promises payment to c for the service done at his request, then the promise is enforceable by c : LAMPLEIGH V BRAITHWAITE
match the value point
consideration must be sufficient, but it need not be adequate: CHAPPELL V NESTLE
existing contractual duty
performing an existing contractual duty is insufficient consideration for a new promise: STILK V MYRICK
exemption to rule that performing an existing contractual duty is insufficient 1
there is sufficent consideration for a promise where the promisee does something extra to that required in the existing contract : HARTLEY V PONSONBY
(green) exemption to rule that performing an existing contractual duty is insufficient 2
(green) there is sufficient consideration for a promise where the promisor receives an extra practical benefit from the promisees agreement to complete what he was already bound to do under an existing contract: WILLIAMS
part payment consideration
a promise to accept part payment of an existing debt in settlement of the whole debt cannot be enforced, as there is insufficient consideration for the promise: the rule in PINNELS CASE
