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These cases concern three issues, which regulate formation in English contract law, beyond simple agreement, commonly called a "badge of enforceability". (1) intention to create legal relations (2) consideration (3) estoppel.
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. After a month B promises to compensate A for service rendered to him earlier.
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.
De Cicco v. Schweizer, [a] 117 N.E. 807 (N.Y. 1917), is a notable contract law case concerning privity of contract and consideration.The case examined whether there was consideration in a contract where person A makes a promise to person B, and in exchange person B promises to perform a previous contract obligation to person C.
The cases discussed are, Coggs v Barnard (1703) on bailment; Pillans v Van Mierop (1765) on the doctrine of consideration; Carter v Boehm (1766) on good faith; Da Costa v Jones (1778) Hochster v De La Tour (1853) on anticipatory breach; Smith v Hughes (1871) on unilateral mistake and the objective approach to interpretation of contracts
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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 valid contract; but there ...
Chappell & Co Ltd v Nestle Co Ltd [1959] UKHL 1 is an important English contract law case, where the House of Lords confirmed the traditional doctrine that in order for a legal contract to be binding consideration must be sufficient but need not be adequate.