6. What's the main difference between the principles in Foakes v Beer and that in Stilk v Myrick

In Foakes, A promises to waive a legal right; in Stilk, B gives something else “more beneficial” in return
In Stilk, A is agreeing to pay more money to B; in Foakes, A is agreeing to accept less money from B.
In Stilk, B derives a practical or commercial benefit. In Foakes, A is exceeding existing contractual duty.
In Foakes, A is agreeing to pay more money to B; in Stilk, A is agreeing to accept less money from B.

7. Which is NOT true regarding good consideration?

Must be more than a condition (Cheshire Fifoot & Furmston)
Social promise only if relinquishing legal rights (White; Hamer)
Must be adequate, i.e. equivalent economic value to the value of the promise (Chappell)
Must be sufficient but need not be adequate; nominal economic value is fine (Chappell)

Performance of contractual duty OK if other party derives a practical or commercial benefit & provided no duress or fraud (Williams v Roffey)
Performance of contractual duty to 3rd party is not good consideration (Scotson v Pegg)
Performance of contractual duty to other party not normally good consideration for promise to pay more money (Stilk v Myrick)
Good consideration if exceeding existing contractual duty (Hartley v Ponsonby)

An instrument containing an unconditional written promise by one party (the maker) to pay a definite sum of money to the other party (the payee) (or to his order, or to bearer) (PLC)
One party makes promise to forgo a legal right, and other acts on it, the other has a defence to any claim by the promisor which is inconsistent with that promise (High Trees)
Act or forbearance of one party, or the promise thereof, is the price for which the promise of the other is bought (Pollock on Contracts)
Final and unqualified expression of assent (Treitel on Contract Law)

Performance of legal duty not generally good consideration
Performance of contractual duty to other party not normally good consideration for promise by creditor to forgo balance due
If one party makes promise to forgo a legal right, and other acts on it, the other has a defence to any claim by the promisor which is inconsistent with that promise
Performance of contractual duty to other party not normally good consideration for promise to pay more money

Exceeding legal duty can be good consideration (Glasbrook; Ward v Byham)
OK if other party derives a practical or commercial benefit & provided no duress or fraud (Williams v Roffey)
Performance of legal duty can be good consideration for policy reasons (Williams v Williams)
Performance of legal duty not generally good consideration (Collins v Godefroy)

Invitation to negotiate which displays no intention to be bound at that particular moment. (PLC)
Expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed. (Treitel on Contract Law)
Final and unqualified expression of assent. (Treitel on Contract Law)
Situation that arises when businesses exchange communications with a view to making a contract, and each prospective party attempts to incorporate its own standard terms into the contract. (PLC)

Agent will not bind principal when acting outside of authority, unless principal ratifies
If apparent authority, 3rd party contracts with the agent, and agent can sue on behalf of principal
Agent will bind principal when acting with authority (of either kind)
Where no authority, 3rd party can sue agent for breach of warranty of authority, i.e. agent’s unilateral contract saying has the authority of the principal

Document in which a person declares that he holds (or two or more persons declare that they hold) assets on trust for the benefit of one or more beneficiaries.
Legally binding promise (written or oral) by one party to fulfil an obligation to another party in return for consideration. (PLC)
Written document which is executed with the necessary formality (that is, more than a simple signature), and by which an interest, right or property passes or is confirmed, or an obligation binding on some person is created or confirmed. (PLC)
Expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed. (Treitel on Contract Law)

Offer, acceptance and consideration
Offer, acceptance, consideration and intention to create legal relations
Offer, acceptance, consideration and the necessary execution formality (that is, more than a simple signature)
Offer, acceptance and intention to create legal relations
Offer, acceptance and the necessary execution formality (that is, more than a simple signature)

Legal relationship created (in lifetime, or on death) by a settlor when assets are placed under the control of a trustee for the benefit of a beneficiary, or for a specified purpose
Relationship under which the law recognises a person as having the power to create or alter legal rights, duties or relationships of another person, the principal
Legal relationship between principal and agent created by consensual agreement to which they alone are the parties (Freeman & Lockyer)
Common law doctrine which prevents a person who is not a party to a contract from enforcing a term of that contract, even where the contract was made for the purpose of conferring a benefit on the third party

If one-off debt, unclear whether legal right(s) extinguished or suspended as no established case authorities -> whatever is equitable (D&C Builders)
Reasonable notice must be given to end the suspension of the legal right(s) (Tool Metal v Tungsten)
Generally, legal right suspended if clear end point of the suspension (e.g. end of war-time conditions in High Trees)
Legal right extinguished if promisee cannot resume his original position, eg. past payments (Ajayi, privy council, persuasive)

Act was done at promisor's request (Lampleigh v Brathwait)
Payment / benefit must have been legally enforceable if promised in advance, i.e. must meet usual requirements for agreement & intention (Roscorla)
One party promised that it would not enforce its strict legal rights against the other.
Parties understood the act was to be rewarded somehow (Casey’s Patents)

Postal rule valid even if letter posted but never arrives (Household Fire)
Silence on its own can be a form of acceptance (Felthouse)
Letter of acceptance binding when posted, provided reasonable to use post & properly stamped, addressed & posted (Adams)
Postal rule can be expressly or impliedly excluded by wording, eg. requiring ‘notice in writing’ (Holwell)

Adverts in normal circumstances. (Partridge)
Tenders, auction bids or auctions without reserve, i.e. unilateral promise to sell to highest bidder (Barry v Davies)
Display of goods in self-service shop (Boots), or shop window (Fischer)
Requests for tender or calls for bids in auction with reserve.