Contract - Consideration

Question 1

Case that defined consideration?

Answer 1

Currie v Misa - some right, interest, profit or benefit which is given to one party

Question 2

Consideration must be sufficient not adequate case + meaning

Answer 2

Chappel v nestle “Both parties must exchange SOMETHING of value”. bad bargains are not interfered with

Question 3

Past consideration is not valid case

Answer 3

Re McArdle - past consideration has no value

Question 4

Exceptions under past consideration + cases

Answer 4

When there is an implied promise to pay - Re Casey’s Patent

When the matter is important - Lampleigh v Braithwaite

Question 5

Stilk v myrick held?

Answer 5

Performing a pre existing duty is not valid consideration

Question 6

Exceptions to performing a pre existing duty + cases

Answer 6

If an extra element is required - Hartley v Ponsonby

If one party allows another to avoid a detriment - Williams v Roffey