Contract Law - Consideration
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- เผยแพร่เมื่อ 9 ก.ค. 2024
- Consideration is one of the key elements of any contract alongside offer, acceptance and intention to create legal relations.
Consideration is generally thought of as some form of benefit or detriment. However in the case of Dunlop v Selfridge [1915] the court adopted a definition from the academic Pollock who suggested that consideration is the price paid for a promise.
The two forms of consideration are executory and executed. Executory consideration is an exchange of promises whereas executed consideration is a promise made in return for the performance of an act.
It is important that executed consideration is differentiated from past consideration as past consideration is not good consideration; Re McArdle [1951]. Generally for executed consideration it will be clear that the parties always intended some sort of bargain between them as per the traditional rule from Lampleigh v Braithwait (1615).
The person involved in the contract must be the one who pays the consideration; Price v Easton (1833). This is very similar to the idea of privity of contract although it is important to note that this has since been affected by the Contracts (Rights of Third Parties) Act 1999.
Consideration must be of some value and therefore be sufficient but does not need to be adequate (Thomas v Thomas (1842); Chappell & Co Ltd v Nestle Co Ltd [1960]).
Consideration will generally be something concrete like money or land rather than something abstract like ‘love’ or ‘affection’. However surrendering a legal claim can constitute consideration; Horton v Horton (No. 2) [1961].
Consideration will not be sufficient if it constitutes something that is already a legal duty (Collins v Godefroy (1831)) but will be sufficient if it goes beyond a legal duty (Harris v Sheffield United Football Club [1988]). Similarly consideration will not be sufficient if it constitutes something that is already a contractual duty (Stilk v Myrick (1809)) but will be sufficient if it goes beyond the contractual duty (Hartley v Ponsonby (1857)) or confers some other contractual advantage (Pinnel’s Case (1602)).
The idea in Pinnel’s Case was affirmed in Foakes v Beer (1884) but was somewhat challenged by Denning J in Central London Property Trust Ltd v High Trees House Ltd [1947]. This is known as promissory estoppel and requires:
1) an unequivocal promise by words or conduct
2) a change in position of the promisee
3) inequity if the promisor goes back on their word
My husband did not like the analogy Spurs v Arsenal, but I love it hahaha! Thanks, Marcus! Great video as usual!
I just saw the football example... the shade!!! Haha I love it. I guess I wouldn’t forget it again
The Spurs joke has been on point, neatly done
Even as an Arsenal fan, I found that funny.
thank you so much for this video! my professor's lecture left me SO CONFUSED. but this was very clear and straight forward - youre a great lecturer
A lovely example with the football teams. Big laugh here, while I learn with your videos. And funny and knowledgeable.
oh my god thank you very much for this video. After hours reading and reading my uni books, I have finally understood the concept.
17:11 promissory estoppel
As an Arsenal fan I took that personally but I have to say your videos make me LOVE law so I will let it slide lol 😂💯💯💯
Hahaha I couldn't resist!
Thank you for your videos Marcus! I always use them to help with revision:)
Thank you Marcus,loving your way of explaining it !!
I have a contract law exam tomorrow, and these videos are really polishing my knowledge, thank you!! Imagine I'll be here all night!
Hope the exam went well!
you probably dont care at all but does any of you know of a method to log back into an instagram account??
I stupidly forgot my password. I would appreciate any help you can give me!
@Alec River Instablaster :)
@Alden Jamal thanks so much for your reply. I got to the site on google and I'm in the hacking process now.
Looks like it's gonna take quite some time so I will reply here later when my account password hopefully is recovered.
@Alden Jamal it worked and I finally got access to my account again. I am so happy:D
Thanks so much, you saved my account !
You have really cleared this up for me, thank you!
Perfectly done, as always 🙌🚀
The Spurs/Arsenal thing would have been a hilarious reason for a video lecture on Consideration to go viral.
Thank you! I look forward to next video, like damages or discharge of contracts 😀
LOOOL we get it! Spurs >>> Arsenal
I love your videos! Very clear and very helpful! Thank you! 😁
Glad you like them!
My god you are so much better than my lecturer
Good upload, I'm not a Spurs fan but you made a very memorable learning point 😂😎 which will remain with me.
😁
Five people did not like the video.....
What else you want for free....
I am disappointed
Thank you great video
Yes I will especially after the 3-3 draw with city good concise lecture
I have a contract law exam in an hour and I wish I had found these sooner
Hope the exam went well!
Many thanks Mr Cleaver.
Excellent series
Excellent work Marcus articulated to perfection
the Arsenal v spurs is very funny 🤣🤣 especially write it around the house to remember. my mum would kill me
Thank you so much! 😊
No worries at all!
Thank you!!!!
simply the best
Thank you
Great explanation
I mean you're not wrong. Arsenal have had their worst start to a season in 45 years. They've scored 10 goals this season. Son has scored 17...
Anyway, a very useful video, thanks.
Great video content and alm presented whilst you were wearing a Spurs shirt. I have the same type with Vertonghen on the back. COYS
It's the football example for me 😭😂😂🤣
Great vid
The spurs v arsenal analogy was hilarious🤣
is there offer and acceptance with past consideration?
Thank u 😊
This helped so much. Omd
So what is used as consideration when police form their contracts ?
So are they saying it’s their services for the justification of the commercial charges?
A normal level of policing is covered by taxes etc. but when a commercial enterprise requires policing for large events then that is going above and beyond the normal duty and represents consideration.
Marcus!!! I loved you before. I love you even more now I know you are a Spurs fan
Can you do some problem solving questions please?
Please do Tort afterwards! You are amazing!
Be sure to check out my tort playlist!
marcuscleaver wow that is amazing! Thank you
Was finding this really useful and engaging til I got to 11.58. :D.
Pls solve problem questions (past papers) of University of London.
you dont understand im obsessed with you marcus
Coys
The Spurs are better was a good one but manchester united is my analogy haha
Just to be clear ... who is better than Spurs? :)
Spurs are not better than arsenal. You have not won a major trophy in how long ?
Thank you for the video though, it really did help :)
*Checks final Premier League Table 2021/22* :P COYS
spurs > arsenal
As of 07/11/2022 Arsenal lead the Premier league, above Spurs.
LMAOOOOOOOOOOOOOOOOOOOOOOOOO SPURS!!
i really liked you .... then 11:58 happened
#COYG
Spurs are better than Arsenal!
Thank you