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consideration - Coggle Diagram
consideration
requirements
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need not be adequate
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Chapple v Nestle market promotions, wrappers could be consideration
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must be sufficient
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prayers
O'Neill v Murphy builder in exchange for prayers did work, promise to say prayers not consideration
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Chapple v Nestle - wrappers - economic value - represent sale that otherwise might not have happened
must be genuine - Revenue v Moroney father selling pub to sons, no consideration actually paid, actually a gift
estoppel
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Promissory Estoppel
Hughes v Metorpolitan Rail sought to evict tenants after earlier promise not to - relief granted - had led other party believe wouldn't enforce
D & C Builders v Rees debtor aware creditor in financial difficulties - no choice but to accept - was rejected
elements
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initial promise clear and unequivocal - Bennet construction v greene clear and unambigious promise or assurance
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High Trees during world war 2 promise made to reduce rent, flat low number of tenants, after war able to bring rent back to normal - conditions at tiem of promise no longer present
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Baird Textile Holdings v Marks and Spencers promissory estoppel not cause of action, can assist - supplier for 30 years without formal agreement, gave notice no longer supplying
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Proprietary estoppel
Basham acted to his detriment on faith of belief known and encouraged has or is going to have a right in Bs property- can't then insist on strict legal rights if consistent with B's beliefs
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McDermott promise made person knows is going to be relied upon and is relied upon 0 not permitted to resile from promise
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defiinition
Pollock - act or forebearance of one party, price for which other bought
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forebearance
Hammer v Sidway uncle promised nephew money if refrained from smoking, alcohol or gambling and swearing - nephew followed terms - legal consideration - gave up something right to do something
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part payment of debt
exceptions
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composition with creditors - financial difficulty - but all agree to be paid certain amount on the euro
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