The rules of consideration have been established over many years through case law. In summary, they can be grouped into 3 man rules. We have taken a look at rule 1. Now we look at rule 2:-
“Consideration must be sufficient but does not have to be adequate”.
In this video the Law Guide UK also look at the following cases:-
Collins v Godefroy (1831) 109 ER 1040
Pinnel’s case (1602) 5 Co Rep 117a
Foakes v Beer (1884) 9 App Cas 605
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