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consideration (SPEM) - Coggle Diagram
consideration (SPEM)
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a promise to pay, do or give something in return for the other party's promise (both parties gain and lose something)
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executed consideration - (applies to unilateral) conduct done is the promise e.g. whoever brings a cake to next lesson gets £10
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Rule 3) existing duty, carrying out existing duty will not be consideration for a new promise
Stilk v Myrick - no consideration, sailed ship back which they were already contracted to do so, so was not consideration for new promise
Hartley v Ponsonby (exception) - doing something extra to what you are contracted to do will be good consideration to support a new promise
Collins v Godefroy (public duties) - policeman required my law to turn up to court, had a public duty to do so, so nothing 'extra' done
Williams v Roffey Bros - if one party is doing their existing contract, but the other party benefits extra in some way then it will be good consideration for a new promise
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