Consideration and Estoppel

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Define Consideration
"may consist of some right, interest, or benefit accruing to one party or some detriment, loss, obligation undertaken by the other" Currie v Misa [1875]
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"A contracting party can stipulate for what consideration he chooses"
Chappell v Nestlé [1960] per Lord Somerwell
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Giving up rights you had no rights to is not good consideration
White v Bluett [1852]
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Past consideration is not good consideration
Pao On v Lau Yiu Long [1980] PC case
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Performance of a pre-existing contractual duty is not good consideration
Stilk v Myrick [1809] (Roffey Bros Exception)
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Acceptance of Part Payment is not good consideration
Foakes v Beer [1884]
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Giving up a legal right to sue is good consideration
Pitt v PHH Asset Management [1993]
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Performance of a contractual obligation owed to a TP is a good consideration
Scotson v Pegg [1861]
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Courts only enforce bargains not promises
Coombe v Coombe [1951]
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Consideration must move from promisee
Tweddle v Atkinson [1861]
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Promissory Estoppel - 4 Requirements
High Trees House [1947] 1. Promisor must intend to be binding 2. He must intend to act on it 3. Must be acted upon 4. Promisor must then try to act inconsistently with it
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Promissory Estoppel is suspensory
Tool Metal Manufacturing Co. v Tungsten [1955]
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PE must have clear and unequivocal promise
Woodhouse AC Israel Cocoa [1972]
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Other cards in this set

Card 2

Front

"A contracting party can stipulate for what consideration he chooses"

Back

Chappell v Nestlé [1960] per Lord Somerwell

Card 3

Front

Giving up rights you had no rights to is not good consideration

Back

Preview of the front of card 3

Card 4

Front

Past consideration is not good consideration

Back

Preview of the front of card 4

Card 5

Front

Performance of a pre-existing contractual duty is not good consideration

Back

Preview of the front of card 5
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