Consideration Flashcards
What is presumed in domestic disputes as regards to consideration?
No legal relations intended
Define consideration
Some right, profit or benefit accruing to one party or a detriment undertaken by the other
Which case can you use to demonstrate the point of fair exchange?
Chappel and co v Nestle
Two main features of legally sufficient consideration?
.must be of some economic value
.sufficient but not adequate
2 main features of past consideration
Something offered in exchange for something else
Price must be motivated by the promise and vice versa
What is past consideration?
When the promise comes after the act, which purpots to be consideration for the promise
Which 2 cases are used for past consideration?
Casey’s patients (always u he would be paid)
Re mcardle- home improvements
What is the law for existing duties?
Performance of existing duty is not good consid for extra payment unless performance goes beyond original duty
What case can we use for existing duties?
Stilk v Mayek
Ship deserters one
Which case has the element of a practical benefit?
Williams v Roffey
Part payment- what is the rule?
If promise for less is enforcable, cant insist on original.
Only enforcable if debetor has given good consid for promise for less
What are the 3 exceptions to part payment not being good consid, known as Pinnel’s case?
Small payment on an earlier date or in a diff place
Giving a piece of personal property
If 3rd party pays sum in satisfaction of the debt.
What is promissory estoppel?
Stops party from going back on clear and unambiguous promise to waive their legal rights.
Can only be used as a defence
What are the criteria for promissory estoppel?
Promise relied upon is clear
Promisor intends to act upon reliance
Was deteimental
