There is a question in my F4 Kit:
The answer to this question confuses me as it states that Ali is in a contract with Di to sell the vase for 400 pounds because their agreement is supported by Executory consideration :
But there was no amount paid by Di so how can it be sufficient consideration?
I didn’t want to start another post for this as it is a simple question:
Can you please give me an example of the type of question that would be asked for “1 Interpretation of statute” – Given in the exam tips for Paper F4.
First question first. One of the definitions of consideration ( Dunlop v Selfridges ) states that a promise is consideration to support either an act or another promise. It’s called executory consideration and it means that the goods / cash has not actually changed hands yet, but it’s promised. That kind of promise IS SUFFICIENT to merit the title consideration
Your second question, listen to the audio lecture and / or read the course notes – and then listen to the audio!
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