Contract - Consideration and Legal Relations

Question 1

What constitutes consideration?

Answer 1

Makes what is just a promise binding, sufficient, must be requested from promisee, must move from promisee

Question 2

adequacy

Answer 2

equal exchange - courts don’t care because undermines freedom of contract and paternalistic

Question 3

sufficient

Answer 3

consistent with legal rules which the courts have developed in this area

Question 4

What are the rules of sufficiency?

Answer 4

needs to be ‘of value in the eyes of the law’. Should confer some benefit onto promiser.

Question 5

What is the doctrine of implied assumpsit?

Answer 5

Usually, consideration cannot be past except in certain conditions.

Question 6

When is intention to create legal relations presumed?

Answer 6

In commercial contexts, not in domestic contexts.

Question 7

How to rebut presumption?

Answer 7

makeshift or enduring? formal/accurate drafting? seriousness? detrimental reliance?