... is said that promises given without value and in the form of a deed may be 'rashly made'3. Lush J in Currie v Misa (1875)4 defined consideration as: "some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the others." This definition is wide and does not appear restrictive of moral or sentimental value. The modern definition and indeed one that is far simpler is that of Sir Frederick Pollock confirmed by Lord Dunedin in Dunlop v Selfridfge [1915]5. Essentially he defined consideration as the 'price of the other party's promise'. Given that in the space of thirty years the definition of consideration has varied it is no surprise the courts are inconsistent in their application. The primary function of consideration is to distinguish unenforceable gratuitous promises from enforceable contractual obligations. The law recognises equal bargain known as ...

See this essay or coursework document in full right now