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Consideration, Part payment of debt, Estoppel and Duress (Consideration…
Consideration, Part payment of debt, Estoppel and Duress
Consideration
An act of forbearance of one party, or the promise thereof, is the price for which the promise of the other is bought, and the promise thus given for the value is enforceable (Dunlop v Selfridge)
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Obligations under a public duty cannot be good consideration (Collins v Godefroy c.f. Harris v Sheffield United FC; Ward v Byham)
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Promissory Estoppel
"A promise intended to be binding, intended to be acted upon and in fact acted on, is binding so far as its terms properly apply" (Central London Property Trust Ltd v High Trees House Ltd per Denning J)
Elements
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A clear and unequivocal promise (Woodhouse AC Israel Cocoa Ltd SA and another v Nigerian Produce Marketing Co Ltd)
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Suspensory in nature
Acts while prevailing conditions to promise continue (Central London Property Trust Ltd v High Trees House Ltd)
Period of estoppel can be brought to an end by providing reasonable notice (Emmanuel Ayodeji Ajayi v RT Briscoe (NIgeria) Ltd)
Duress
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To goods
Contract can be avoided where there is a threat to seize he owner's property or damage it (The SIbeon & The Sibotre)
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