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Consideration

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by

Afini Hamidi

on 3 July 2014

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Transcript of Consideration

Consideration
Section 2 (d)
This price may be an act or
abstinence or a promise to perform a future act or abstinence
Categories of Consideration
(i) Executory Consideration
S.2(d) - It Is when one promise is
made in return for another promises

Case
K.Murugesu v Nadarajah
(ii) Executed Consideration
S.2(d)- It is executed when a
promise is made in return to
the performance of an act
(iii) Past Consideration
S.2(d) - Has done or abstained
This is where one promise is made subsequent to an in return for an action that has already
been performed. The promise is made on account of a past consideration

Case :
Lampleigh v Brathwaite
Kepong Prospecting Ltd v A.E.Schmidt & Marjorie Schmidt

Necessity of Consideration
Section 26 - An agreement made
without consideration is void, unless..'
Exceptions
(a) Agreement made on account
of natural love and affection
S.26 (a)

Case - Re Tan Soh Sim
(b) Agreement of compensate
a past voluntary act
S.26 (b)

Case - J.M.Wotherspoon & Co Ltd v Henry Agency House
(c) Agreement to compensate an act which promisor was legally compellable to do
S.26 (b)
(d) Agreement to pay a
stature barred-debt
S.26 (c)
Consideration need not be adequate
S.26 - Agreement to which the consent of the promisor is freely given is not void merely because the consideration is in adequate; but the adequacy of the consideration maybe taken into account by the court in determining the question whether the consent of the promisor was freely given

Case :
Phang Swee Kim v Beh I Kock
Bolton v Madden
Consideration need not come from the promisee

S.2 (d) states...the promise or any other person.."

Case :
Venkata Chinnaya v Verikataramaya
Waiver of Performance
General Principle

Case :
Pinnel' Case (1602) 77 ER 237
Method of waiver of performance
S.64

(i) Payment of a smaller sum in this charge
of the largest sum
(ii) Part payment by a third party in this charge of a debt
(iii) If a person accepts an agreed sum in
satisfaction of an unascertained debt,
that debt is discharged
(iv) Composition with
creditors for
the payment of a
smaller sum
End of Consideration
Full transcript