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Words: | Submitted: Mon Jun 19 2006
... given, suffered or undertaken by the other'. Beale, (2001)3 argues that the descriptions given in Currie et al...(although much cited)...were almost certainly not meant as complete definitions, merely as sufficient to decide the points before the court. He goes on to suggest a newer definition from, Pollock (1950)4, is more complete, 'An act or 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 value is enforceable'. This view is described by Richards (2002)5 as the 'modern approach' and is clearly approved by the House of Lords in Dunlop Pneumatic Tyre Co. Ltd. v. Selfridge and Co Ltd.6 as being more representative of the doctrine of consideration. Therefore have the judiciary failed to reach agreement about the foundations of consideration? Or has this led them, as some would argue, to advocate a more 'flexible' approach ...
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