Contract Law - Consideration in contract law

What this page is about: This is an essay on consideration which students may find useful.

Not every promise made is enforceable in law by the Courts, as this would clearly be impractical.  A promise backed up by consideration gives a reason for enforcement [Atitah, p.200 1]. 

Consideration can be “some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility, given, suffered, or undertaken by the other” [Currie v Misa 1875 REF2].  There need not be a benefit or detriment to both parties – it need only be that one party has a benefit or detriment and the other accepts it [Pollock, p.200 REF3]. 

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