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Words: | Submitted: Tue Jun 20 2006
... ( the promisor ) or some detriment to the person to whom the promise is made ( the promisee), or both". In other words, there must be some form of exchange between both parties. As Richards puts it, "Consideration is the price for which the promise of the other is bought. It must be something of value which is recognised by the courts as amounting to counsideration" (P. Richards. Law of Contract 6th edition p.47). In Dunlop v Selfridge (1915), the House of Lords explained consideration in terms of purchase and sales...'the plaintiff must show that he or she has bought the defendant's promise, by carrying out, giving or promising something in return for it'. There are various ways that the courts have described this situation and not always aiding clarity, one of the more common definitions comes from the case Currie v Misa (1875) In that case, Lush J defined ...
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