Consideration 0.0 / 5 ? LawContract lawA2/A-levelOCR Created by: RobynLordCreated on: 28-09-17 19:15 Each party in the contract must receive a ... benefit 1 of 17 Each party must suffer a ... detriment 2 of 17 Consideration must have something of ... value 3 of 17 Consideration must not be too vague 4 of 17 'some recognisable value' sufficient 5 of 17 The consideration need not be ... (generous enough to be a fair bargain) adequate 6 of 17 The courts said that £1 a year rent was sufficient Thomas v Thomas 7 of 17 You cannot claim consideration if you have only performed a 'gratuitous promise' past consideration 8 of 17 An act done in the past will be valid consideration if payment was ... expected 9 of 17 In Lampleigh v Braithwait what could be exepcted to enable payment of £100 pardon 10 of 17 An existing public or contractual duty will not be considered good... consideration 11 of 17 The 'extra' consideration must be clearly... identifiable 12 of 17 Which 'extra' case protects the council for policy reasons? Glasbrook v Glamorgan 13 of 17 Which 'extra' case could lead to inconsistencies as it allowed a vague term to be classed as consideration? Ward v Byham 14 of 17 The Contract (Rights of Third Parties) Act 1999 allows the contract to be ... by a person who has no consideration enforced 15 of 17 Part payment of debt is not consideration as there is already an ... to pay obligation 16 of 17 ... is a term which enables a party to not go back on a promise which is not supported by consideration promissory estoppel 17 of 17
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