Contract Law - Consideration

Further requirement in order for a contract to be enforceable by law.

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  • Created by: Emma
  • Created on: 21-05-09 14:44
What is consideration sometimes defined as?
The price paid for a promise
1 of 5
An older definition using the idea of 'benefit' and 'detriment' can be seen in which case?
Currie -v- Misa
2 of 5
When is consideration not an essential element of a contract?
A formal legal document which indicates it is a deed and has been signed, witnessed and delivered
3 of 5
What constitutes executory consideration?
When parties exchange promises to do something in the future
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What constitutes executed consideration?
When a party has performed his part of the contract
5 of 5

Other cards in this set

Card 2

Front

An older definition using the idea of 'benefit' and 'detriment' can be seen in which case?

Back

Currie -v- Misa

Card 3

Front

When is consideration not an essential element of a contract?

Back

Preview of the front of card 3

Card 4

Front

What constitutes executory consideration?

Back

Preview of the front of card 4

Card 5

Front

What constitutes executed consideration?

Back

Preview of the front of card 5

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