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Lord Phillips of Worth Matravers MR [a] held that the mistake was not sufficiently fundamental to void the contract. The Great Peace would have taken 22 hours to cover 410 miles, but that delay was insufficient to make performance of the contract "essentially different from [the services] the parties envisaged when the contract was concluded".
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.
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
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.
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 ...
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 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 ...
Failure of consideration is a highly technical area of law. Particular areas of controversy include: Whether the failure of the consideration must be 'total', [3] and the scope and meaning of such a requirement; Whether 'consideration' refers not only to bargained-for counter-performance by the defendant, but also a legal or factual state of ...