Quiz on Consideration in Contracts

What is consideration in a contract?

• The price paid by one party for the promise of another

• The date of signing the contract

• The color of the contract paper

• The font size used in the contract

Which type of consideration is based on an act that has already been performed?

• Executed consideration

• Executory consideration

• Future consideration

• Past consideration

According to the rules of consideration, what must consideration be?

• Fake but adequate

• Invisible but substantial

• Non-existent but valuable

• Real but not necessarily adequate

In which case was it held that a promise based on past consideration cannot be enforced?

• Welby vs Drake

• Foakes vs Bear

• Pinnel's Case

• Rascola vs Thomas

What is the doctrine that allows a past consideration to be enforced in certain circumstances?

• Doctrine of consideration

• Doctrine of privity rule

• Doctrine of equitable estoppel

• Doctrine of past debts

Under what circumstances can the doctrine of equitable estoppel apply?

• When there is an existing contractual relationship

• When the promise is made under duress

• When the promise is verbal only

• When there is no contract in place

What is the rule that affects public officers providing services beyond their duty?

• Rule 8

• Rule 3

• Rule 6

• Rule 5

In the case of Harvey vs Paulsby, why were the 19 crew members entitled to extra payment?

• They were related to the ship owner

• They demanded extra payment

• They threatened to abandon the ship

• They did a job that was to be done by 36 crew members

What is a promise founded on a third party considered as?

• Void consideration

• Bad consideration

• Illegal consideration

• Good consideration

In the case of Shadwell vs Shadwell, what was the promise made by the uncle to the nephew?

• To give a one-time payment of 150 pounds

• To give 600 pounds per annum

• To give 150 pounds per annum as long as the practice income does not exceed 600 per annum

• To give 150 pounds per month