- Created by: Majid
- Created on: 26-04-13 09:14
Intro: One of the 4 key elements to a binding contract. Consideration has been defined in the case of "Dunlop v Selfridge" as the price one party pays for the other parties promise. In "Thomas v Thomas" it was defined as both parties giving something of value, and has also been defined in terms of benefit and detriment in "Currie v Misa".
CONSIDERATION MUST MOVE FROM THE PROMISEE:
Case: "Tweddle v Atkinson". In this case money was to be given on marriage. However Tweddle sued and was unsuccessful.
AO2: In recent years the doctrine has come under attack initially by Lord Denning in cases such as "Ward v Byham" and the "High Trees Case". However, more recently in "Williams v Roffey Bros". It seems as though consideration is not vital in an agreement due to those cases and seems to go against the established principles. However, it is still vital in the formation of a contract.