Introduction to Consideration PDF

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Summary

This lecture gives an overview of consideration, in light of forming a contractual relationship....

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I nt r oduct i ont oConsi der at i on

Agr eementneedst obewi t hCons i der at i ont omakei tenf or ceabl e Consi der at i oni st hecommonl awt estofenf or ceabi l i t yf orsi mpl econt r act s( t hosenotc ont ai nedi n deed)

Defini ngConsi der at i on Cur r i evMi sa( 1875) “ Somer i ght ,i nt er est ,pr ofit ,orbenefitaccr ui ngt ot heonepar t y ,orsomef or bear ance,det r i ment , l oss ,orr esponsi bi l i t y ,gi ven,suffer ed,orunder t akebyt heot her ” Pr i ceoft hePr omi se Si rFr eder i ckPol l ock-“ Thepr i ceoft hepr omi se” Whatmustonepar t ypr omi sei nor dert osecur et hepr ai seoft heot herpar t y? Mut ual exchangeofpr omi sescanbeaval i dconsi der at i on

Rul esofConsi der at i on Pastconsi der at i oni snoconsi der at i on ex ecut or y-mut ualex changeofpr omi ses Ex ecut ed-pr omi sei nex changef orper f or manceofanact PastConsi der at i on-s er vi cepr ov i dedbef or et hepr omi seofr ewar d consi der at i onneedst obegi v enatt het i meofagr eementori nt hef ut ur e

Roscor l avThomas( 1842) Sal eofahor se,t hent hepr omi semade,hor s ewas“ s oundandf r eef r om vi ce” .( hor sewasni ce andpl ac i d)howev eri twasn’ t Thust hepr omi sewasnotenf or c eabl e,t hepl ai nt i ffshadpr ov i dednoconsi der at i oni nr et ur n. ( Pas tConsi der at i on) ReMcAr dl e[ 1951] apr omi set opayf ori mpr ov ement scompl et edont hepr oper t ywasnotenf or ceabl e Thewor kwasnotunder t ak eni nex changef ort hepr omi seofpayment

“ Request edPer f or manceEx cept i on” Lampl i ghtvBr at hwai t e( 1615) Br ai t hwai t ,c har gedwi t hmur der ,r equest edLampl ei ghsoughtapar donf r om t heki ng ThenPr omi sed£100“ f orhi st r oubl e” Br ai t hwai tneverpai dt he£100 Asacthadcomeatpr omi sor sr eques t=val i dconsi der at i on Theactt oseekt hepar donwasatt heBr at hwai t ’ sr equest-pr omi sor sr eques tmadehi m got her e

-t hepr omi seoft he£100wasbi ndi ng ReCasey ’ sPat ent s[ 1892] Pat entmanagerappoi nt edt ocol l ectr oy al t i es. pr omi sedt ot r ansf ershar est ot hepat entmanager si nr et ur nf orhi swor k,howev ert heynev erdi d Pat entmanagerconsi der at i onwasi nt hepast-pas tconsi der at i on Howev ert hecommer ci al r el at i onshi pwoul dhav ei mpl i edpaymentf ort hi ss er vi ce-i twasatt he pr omi sor sr equest

Lor dScar mani nPaoOnvLauYi uLong[ 1980] 1)Hast heactbeendoneatt hepr omi sor sr equest( Lampl ei ghvBr at hwai t 2)Woul dbot hpar t i eshav eunder s t oodt hatt heactwast ober emuner at ed( ReCasey sPat ent s) 3)Woul dt hepay mentorconf er mentofabenefi thav ebeenenf or ceabl ei fpr omi sedi nadv ancet i mi ngoft heconsi der at i on

Consi der at i onMustMoveFr om ThePr omi see Onl yapar t ywhohaspr ovi dedconsi der at i onc anenf or cet hepr omi se Tweddl evAt ki nson( 1861) Fat herandf at heri nl awpr omi sedt opayPl ai nt i ffsi nl i ghtofhi supcomi ngmar r i age Fat her i nl awr ef usedt opay£200 ThePl ai nt i ffcoul dnotenf or cet heFat her I nLaw’ spr omi se ThePl ai nt i ffwasa3r dpar t yt ot heagr eement

AdequacyofConsi der at i on Thecour ti snotconcer nedwi t ht headequac yofconsi der at i on Adequac y=howi tr el at est ot hev al ueofwhati sbei ngbar gai nedf or . Thecour t sar enott her et opr ot ectapar t yf r om abadbar gi ng

ThomasvThomas( 1842) Husbandpr omi sedwi f et hatshecoul dl i v ei nhouseaf t erhi sdeat h Ex ecut or sofhi ses t at eagr eedt oac cept£1ay earr ent Thepr omi seofpaymentwassuffici entconsi der at i on( al t houghnotadequat e)

Chappel landCoLt dvNest l eCoLt d[ 1960] Def endant s,r anapr omot i onoffer i ngi nex changef orpaymentandt hr eechocol at ewr apper s. Di dt hewr apper sf or m par toft heconsi der at i on? HouseOfLor ds :t hewr apper s( al t houghofmi ni mal v al ue)wer esuffic i entt of or m par toft heconsi der at i on.

Consi der at i onMustHav eSomeEconomi cVal ue Whi t evBl uet t( 1853) Fat herpr omi sedt opayoffSon’ sdebti ft hesonst oppedcompl ai nt Noeconomi cv al ue=i nsuffici ent

‘ I nvent ed”Consi der at i on Cour t smayfi ndconsi der at i on,i nt hei nt er es tofj ust i ce,t ogi veeffectt ot heagr eement .

DeLaBer evPear son( 1908) Newspaperadv er toffer i ngfinanc i al advi c e,negl i gentadvi cewast hengi v ent or eaderwhosuffer ed aneconomi cl oss. TheI nc r easei nsal eswast hebenefitconf er r edt ot henewscompany .( Di dnotbuyt heNewspaper ) .

( Not e:Nor emedyofnegl i gentmi sr epr esent at i onatt het i me) Cl oseal oophol e,t her ei snowal aw...