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The rule that past consideration is not good consideration is subject to the exception discussed by the Privy Council in Pao On v Lau Yiu Long. [16] In that case, their Lordships held that past consideration can be good consideration where: The promisee performed the original act at the request of the promisor;
Consideration is the central concept in the common law of contracts and is required, in most cases, for a contract to be enforceable. Consideration is the price one pays for another's promise. It can take a number of forms: money, property, a promise, the doing of an act, or even refraining from doing an act. In broad terms, if one agrees to do ...
Consideration must be an act, abstinence or forbearance or a returned promise. Consideration may be past, present or future. Past consideration is not consideration according to English law. However it is a consideration as per Indian law. Example of past consideration is, A renders some service to B at latter's desire.
Pre-existing duty rule. The pre-existing duty rule is an aspect of consideration within the law of contract. Originating in England the concept of consideration has been adopted by other jurisdictions, including the US. In essence, this rule declares that performance of a pre-existing duty does not amount to good consideration to support a ...
Roscorla v Thomas. Roscorla v Thomas[1] is a notable case in English contract law which demonstrates that past conduct is not sufficient consideration to support a contract. Past consideration is not a good consideration.
Pillans & Rose v Van Mierop & Hopkins (1765) 3 Burr 1663 is a case concerning letters of credit, and the doctrine of consideration. It has been recommended as a landmark case in English contract law. [1] Lord Mansfield tentatively expressed a view that the doctrine of consideration was redundant. However, in Rann v Hughes the House of Lords ...
Consideration, economic duress, commercial pressure. Pao On v Lau Yiu Long [1979] UKPC 17 is a contract law appeal case from the Court of Appeal of Hong Kong decided by the Judicial Committee of the Privy Council, concerning consideration and duress. It is relevant for English contract law.
Stilk v Myrick. Stilk v Myrick [1809] EWHC KB J58 is an English contract law case heard in the King's Bench on the subject of consideration. In his verdict, the judge, Lord Ellenborough decided that in cases where an individual was bound to do a duty under an existing contract, that duty could not be considered valid consideration for a new ...