CONSIDERATION

There are various rules governing the law of consideration:

• The consideration must not be past.

• The consideration must be sufficient but need not be adequate.

• The consideration must move from the promisee.

• An existing public duty will not amount to valid consideration.

Consideration must not be past. Decided case involved:

• Ward v Byham

• Williams v Roffey Bros

• Thomas v Thomas

• Re McArdle (1951) Ch 669

Please choose 3 types of consideration?

• Executed Consideration

• Executory Consideration

• Past Consideration

• Future Consideration

What is executed Consideration?

• An act or promise that will be done in future

• An act which has been done to fulfill the contract

• Something wholly performed before the promise was

  made.

• a promise in return for counter promise

What is Past Consideration?

• An act or promise that will be done in future

• the exchange of anything of value by each party

• Something wholly performed before the promise was

  made.

• An act which has been done to fulfill the contract

What is Executory Consideration?

• The other party must accept an offer

• An act which has been done to fulfill the contract

• Something wholly performed before the promise was

  made

• An act or promise that will be done in future

Which one is correct about the definition of CONSIDERATION?

• They must each receive a benefit and each suffer a detriment.

• consideration is concerned with the bargain of the contract

• One sided promise is consideration

• Something of value in the eyes of the law

B (to pay) promised to pay A (to renovate) if A completed his house renovation. What type of consideration is this?

• Executory consideration

• Beyond Consideration

• Executed Consideration

• Past Consideration

Adam Danish promised to reward RM2000 to anyone who finds and returns his wallet. Sara Aleesya found and return it to Adam. This is considered as which type of consideration?

• Federal Constitution

• Executed Consideration

• Past Consideration

• Executory Consideration

English law does not recognised Past consideration, based on which case law?

• Lampleigh v Braighwait

• Tweddle v Atkinson

• Roscorla v. Thomas (1842)

• Carlill v Carbolic Smoke Ball