Consideration requires both parties to give something to the other by way of exchange.
1 of 11
Thomas v Thomas
Adequate consideration is when both parties agree that the thing being exchanged is acceptable to them.
2 of 11
Chapell v Nestle
1) Even if the things being exchanged seem negligible to the outside world, if it is acceptable to the parties it is adequate consideration.
2) Sufficient consideration requires the consideration to be real and have some value.
3 of 11
Tweddle v Atkinson
Consideration must move from the promisee to the promisor.
4 of 11
Stilk v Mynick
Performing an existing obligation will not be new consideration.
5 of 11
Hartley v Ponsonby
Performing an additional element on top of the original agreement will be new consideration.
6 of 11
Collins v Godfrey
A party acting under a public duty is not new consideration, as they are fulfilling what they were required to do under their public duty.
7 of 11
Glasbrook Bros
Public Duty Exception: If the party with a public duty goes beyond their duty, it can amount to new consideration.
8 of 11
Re: McArdle
Past consideration is not consideration.
9 of 11
Re: Casey's Patents
Past Consideration Exception: When the promisor makes an expressed or implied request for a specific task and it is implied that the promisee will be paid for the task.
10 of 11
Consideration Legal Test
1) Introduction.
2) Adequate & Sufficient Consideration.
3) Moved from the promisee.
4) Pre-existing duty.
5) Past Consideration
6) Conclusion
11 of 11
Other cards in this set
Card 2
Front
Adequate consideration is when both parties agree that the thing being exchanged is acceptable to them.
Back
Thomas v Thomas
Card 3
Front
1) Even if the things being exchanged seem negligible to the outside world, if it is acceptable to the parties it is adequate consideration.
2) Sufficient consideration requires the consideration to be real and have some value.
Back
Card 4
Front
Consideration must move from the promisee to the promisor.
Back
Card 5
Front
Performing an existing obligation will not be new consideration.
Comments
No comments have yet been made