Consideration

• Consideration


  The price given in exchange for goods or services under a contract
• 1. Consideration must be sufficient but need not be adequate - Thomas v Thomas
• 2. Consideration must move from the promise

  • a person cannot sue or be sued unless they have provided consideration for it
  • Tweedle v Atkinson
• 3. Existing contractual duty does not constitute consideration

  • cannot reuse consideration from past contract for new contract
• 4. Part payment of a debt is not consideration

  • Pinnel's case
• 5.The consideration must not be past