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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.
Dyer's case (1414) 2 Hen. 5, 5 Pl. 26; Lucy v Walwyn was an early case on the doctrine of consideration, concerning an executory contract where the plaintiff recovered damages for the loss of a bargain. [6] Thomas v Thomas. [7] was a case where £1 was seen to be good consideration for a widow to continue to live in her house after her husband ...
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.
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.
Rock Advertising Ltd v MWB Business Exchange Centres Ltd [2018] UKSC 24 is a judicial decision of the Supreme Court of the United Kingdom relating to contract law, concerning consideration and estoppel. Specifically it concerned the effectiveness of "no oral variation" clauses, which provide that any amendments or waiver in relation to the ...
WN Hillas & Co Ltd v Arcos Ltd [1932] UKHL 2 is a landmark House of Lords case on English contract law where the court first began to move away from a strict, literal interpretation of the terms of a contract, and instead interpreted it with a view to preserve the bargain. The Court ruled that judges may imply terms into a contract based on the ...
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.
Currie v Misa (1875) LR 10 Ex 153; (1875–76) LR 1 App Cas 554, is an English contract law case, which in the Exchequer Chamber contains a famous statement by Lush J giving the definition of consideration in English law. Lush J said, A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or ...
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