Consideration

Question 1

what essentially is consideration

Answer 1

essentially, consideration is the price paid for the promise of the other party

Question 2

what does currie v misa define

Answer 2

Defines consideration

Question 3

how does currie v misa define consideration

Answer 3

defines consideration 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 4

What is the underlying idea of consideration

Answer 4

if a promise is to be made legally binding then it must be “bought” with something of value given by the promise

Question 5

If it wasnt bought with something of value given by the promise, how should it be expressed

Answer 5

in the form of a deed

Question 6

what are the two types of consideration

Answer 6

executed, executory

Question 7

what is executed consideration

Answer 7

executed consideration is where a person has performed an act which amounts to consideration

Question 8

what is executory consideration

Answer 8

consideration which is a promise to be performed in the future

Question 9

what is past consideration, can it be a consideration? what case defines this

Answer 9

Past consideration is NO consideration.
past consideration is a benefit conferred in the past. In which is not consideration for a present promise
ReMcArdle

Question 10

what are the exceptions to past consideration is no consideration

Answer 10

Where services have been rendered

Question 11

what case example allows past consideration to be a consideration

Answer 11

Lampleigh v Braithwait
the expressed or implied request of the promisor and the parties understood that the act was to remunerated and the payment would have been legally enforceable had it been promised in advance - sufficient consideration to support a subsequent promise to pay

Question 12

how must the consideration move

Answer 12

Move from the promisee

Question 13

if the consideration must move from the promisee, who cannot sue for the carrying out of promises made by the parties to the contract?

Answer 13

Any third party.

Question 14

what was said in the case of Tweddle v Atkinson

Answer 14

The plaintiff had not provided consideration, he was therefore a ‘stranger to the contract’- this proves that consideration must move from the promisee

Question 15

consideration must be ______ but need not be ______

Answer 15

sufficient

adequate

Question 16

what case proves that consideration must be sufficient but need not be adequate

Answer 16

Thomas v Thomas - courts will not question the adequacy of the consideration agreed upon

Question 17

how is a consideration sufficient

Answer 17

if it has some value - the promise must be capable of expression in terms of value

Question 18

which case proves that the promise must be capable of expression in terms of value

Answer 18

White v Bluett

Question 19

how can consideration be insufficient

Answer 19

when the promisor undertakes to do something they were already obliged to do

Question 20

examples of things that promisors were already obliged to do (performance of existing obligations)

Answer 20

performance of an existing duty imposed by law or by an existing contract

Question 21

case example of an insufficent consideration due to the parties being contractually bound

Answer 21

Stilk v Myrick

Question 22

Case example of an insufficient consideration due to parties being legally bound

Answer 22

Glasbrook bros v glasmorgan

Question 23

what was decision made in the case of scotsson v pegg

Answer 23

a promise to perform an existing obligation to a third party may be sufficient consideration

Question 24

what are the exceptions to pinnels case

Answer 24

methods of payment have altered
earlier payment
payment at a different location
something is added

Question 25

what case approved the rule in pinnels case

Answer 25

foakes v beer

Question 26

what is the rule in pinnels case

Answer 26

that part-payment of a debt is not good consideration for a promise to forgo the balance

Question 27

what is the essence of the doctrine promissory estoppel

Answer 27

when one party to a contract promises, in the absense of fresh consideration, not to enforce their contractual rights, an equity may be raised in favour of the other party, which will estop the party who made the promise from going back on it

Question 28

what is the principal source of the doctrine promissory estoppel and whihc case supports this

Answer 28

the obiter dicta is the principal source and the case Central london property ltd v high tree house supports this

Question 29

what does the case of john burrows v subsurface surveys say

Answer 29

must be clear that one party has made an unambiguous promise which he intent the other party to rely on

Question 30

what does the case combe v combe say

Answer 30

that the doctrine is a shield not a sword

Question 31

what does the case of d and c builders v rees say

Answer 31

a party relying on promissory estoppel must also have acted fairly and in accordance with equitable rights

Question 32

why will courts decided the element, intention to create legal relations?

Answer 32

if offer and accepetance and consideration have already been established

Question 33

is ther presumption for ICLR in social and domestic agreements

Answer 33

there is a rebuttable presumption that parties do not intend to not create legal relations

Question 34

ICLR in husband and wife case

Answer 34

Balfour v Balfour

Question 35

ICLR in parent and child

Answer 35

jones v padavatton

Question 36

is ther presumption for ICLR in commercial agreements?

Answer 36

a strong presumption that the parties intended to enter legal relations

Question 37

case example for ICLR in commercial agreements

Answer 37

jones v vernon pools.