Currie v misa Misa. Decision / Outcome of Currie v Misa The Court held that consideration must “consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, In Currie v Misa (1875) LR 10 Ex 153, 162, Lush LJ defined consideration as “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”. legal consultant. 755, pi. Thomas v Thomas [1842] 2 QB 85. Lush J said, A company named Lizardi Co, then in good credit in the City, sold In Currie v Misa [1875] LR 10 Ex 153, Lush J defined consideration as “may consist either in some right, interest, profit or benefit accruing to one party, or some forebearance, detriment, loss or responsibility, given, suffered or undertaken by the other”. The court in Currie v Misa [1] declared consideration to be a "Right, Interest, Profit, Benefit, or Forbearance, Detriment, Loss, Responsibility". viii, p. Parties: o Plaintiff: Glyn, Mills, Currie & Co. Misa (1875) LR 10 Ex 153 at 162. B. 20. The case involved a dispute over whether a promise to pay a debt that was already due Currie v Misa [1875] LR 10 Ex 153; [1875–76] LR 1 App Cas 554 is a landmark case in English contract law that established the principle of consideration. Misa, a valuable consideration in the eye of the law may consist either in some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility, given, suffered, or undertaken by the other party. Examples of benefit to the promisor: • Having services rendered • Receiving money, goods, or property Deiniion Currie v Misa (1875) (executed) ‘Beneit,detriment’ analysis – either some right, interest, proit, beneit accruing to one party or some forbearance, detriment, loss of responsibility given, sufered or undertaken by another party. play; pause; stop; mute; Please purchase to get access to the full audio summary. 153. In most cases, the consideration given in return for a promise will constitute both a benefit to the promisor and a detriment to the promisee (eg, by giving money to the promisor). – Decision in Eastwood v. 162. Quoted above. In the Fazaluddin v. 3. Case Info; Download PDF Email Link Copy Link Log in; Table of Contents Catchwords Jump to page (154 to 171) Jump to page. o Defendant: Misa. Lush said as follows: • "a valuable consideration, in the sense of the law, may consist either in 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" Lush J. May 21, 2024 · Currie v. A few days later, upon paying in Currie v. 11. The case was The question addresses the element of consideration. [2] Lizardi & Co owed substantial debts to So why is the case sometimes known as Currie v Misa (1875) LR 10 Ex 153 and at other times Misa v Currie (1876) 1 App Cas 554? Well, the famous quote made by Lush LJ, defining consideration as ‘some right, interest or benefit CURRIE AND OTHERS v. ” Study with Quizlet and memorise flashcards containing terms like Currie v Misa (1875) LR 10 Ex 153. Mr Currie was another of Nov 29, 2013 · I prefer the more comprehensive definition in Currie v Misa (1875) 1 App Cas 554: 'some right, interest, profit or benefit accruing to one party, or some forebearance, detriment, loss or . ” Consideration 对价 Definition → Currie v Misa (1875): a valuable consideration, may consist either in some right, interest, profit or benefit accruing产生 to the one party, or some forbearance, detriment, loss of responsibility given, suffered or undertaken by the other [a consideration should be benefit or profit to one party which is promisor and another party should bear the loss or Dec 26, 2024 · Consideration 1 Consideration Contract law lecture 4: Consideration Introduction: The legal concept of consideration, depicted in Currie v Misa 1875 , underscores that for an agreement to be binding, there must be a benefit or detriment exchanged. A case on the definition of consideration in contract law. at p. Misa, (1875) LR 10 Exch 153 it is observed that a valuable consideration in the sense of the law, may consist either in some right, interest, profit or benefit accruing to one party or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other. According to Lush, J. The concept has been adopted by other common law jurisdictions. Find out how the House of Lords defined consideration and applied the principle of Learn about the facts, legal arguments and outcome of the famous case of Currie v Misa, which defined consideration as a detriment or benefit to the parties. 10 Ex. in Currie v Misa (1875) LR 10 Exch 153 refered to consideration as consisting of a detriment to the promisee or a benefit to the promisor: " some right, interest, profit or benefit accruing to one party, or Currie v Misa 1875 LR 10 Ex 153 ‘some right, interest, profit or benefit accruing to one party or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the otherʼ . Performance of Statutory Duty. Facts Lizardi & Co. Ward v Byham [1956] 1 WLR 496. Decision / Outcome of Currie v Misa The Court held that consideration must “consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, Mar 23, 2022 · Case opinions Lush J Currie v Misa (1875) LR 10 Ex 153; (1875-76) LR 1 App Cas 554, is an English contract law case, which in the Exchequer Chamber contains a famous statement by Lush J giving the definition of Jan 6, 2024 · Consideration can be difficult enough to understand without extra confusion about case names and complicated commercial concepts. L. Glasbrook Brothers Ltd v Glamorgan CC [1925] AC 270. Currie v Misa (1875) LR 10 Ex 153. Footnote 28 Yet the value of consideration need not be adequate. View Answer Posted On : May 21 2024. It means that a valuable consideration will have either in some benefit accruing one party or some detriment undertaken by the other. Currie. Currie v Misa (1875): a valuable consideration may consist either in some right, interest, profit or benefit accruing to the one party the law is concerned about the consideration for a promise — not the Download PDF - Currie V Misa [6ngegp5dd6lv]. However, I aim to argue in this section that this judgment could still be understood to be using the benefit-detriment lens, as the Currie v Misa (1875) – Lush J An act or forbearance of one party or the promise thereof as the price for which the promise of other is bought. Firstly, consideration is a vital component of a binding contract. 10 Exch . General rules for consideration: - 1. 11 11 (1600) Cro. This is a useful definition, as it indicates the variety of burdens that can be undertaken by a party in a contractual context in Currie v Misa (1874) LR 10 Ex 153. , Chappell and co v Nestle Ltd - the prkmise exchanged does Lizardi & co,a reputable company in the city,sold four bills of exchange to Mr. Consideration is the term given for the detriment or benefit Currie v Misa [1875] LR 10 Ex 153; [1875–76] LR 1 App Cas 554 is a landmark case in English contract law that established the principle of consideration. Chappell and Co v Nestle [1960] A. The title of a creditor to a negotiable security given to him on account of a pre-existing debt, and received by him bonâ fide and without notice of Currie v Misa 1875 Consideration The court was asked to define what valuable consideration is: Held: Lush J: "A valuable consideration, in the sense of the law, may consist either in 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) LR 10 Ex 153; (1875–76) LR 1 App Cas 554, is an English contract law case, which in the Exchequer Chamber contains a famous statement by Lush J giving the definition of consideration in English law. The case of Currie v Misa (1875) All ER 686has play an important role in consideration. Lush J: “A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility, given, Case For Definition: Currie v. Written By Nicolas Heyes. ’ Lush J (1875) LR 10 Exch 162, (1875) LR 10 Exch 153, Currie v Misa (1874) LR 10 Ex 153 Facts - Consideration in the formation of a contract. sold a number of bills of exchange to Mr. Lizardi gave Currie -Currie v Misa: Consider ation is a pr omise of something of v alue in re turn for the contr act, giv en by . DOC from LAW 4LSC at Uni. Misa underscored the importance of a valid exchange of value for a contract to be legally binding, setting a precedent for future contract law cases. However, The company who supplied the BoE were in substantial debt to Currie's banking firm and so they instructed the bankers to not honour Misa's BoE. Misa 1875 House of Lords. Defining consideration in terms of detriment and benefit is very much a 19th-century concept and one which is not popular today. in Currie v. However, Lizardi was in substantial debt to Mr. Misa一案中确立的： 从法律上看，一项有价值的对价就是一方 当事人得到的某种权利、利益、利润或好 处；或者对方当事人作出的容忍，承受某 种损害、损失，或承担某种责任。 Jul 2, 2024 · Issue in Currie v Misa The question arose as to whether the existing debt constituted sufficient consideration for the security so as to constitute a legally-enforceable contract for the creditor. CURRIE AND OTHERS v. Lord Dunedin in (Currie v Misa per Lush J). 11 Feb 1875 LR 10 Exch 153, Ex Ct. See, e. Feb 24, 2009 · Consideration. Pre-existing Debt - Cheque given on Account of - Negotiable Security payable on Demand. Definition. Currie v Misa (1875) LR 10 Ex. Nov 6, 2023 · Chappell & Co Ltd v Nestlé Co Ltd [1960] AC 97. Kenyon (1840); R. Consideration can be defined as what parties give or promise to each other as part of an agreement or contract. Currie’s ba Currie v Misa (1875) is an English contract law case that defines consideration in law. Quoting the above. A few days later, upon paying in the The classic definition of valuable consideration as defined by Lush J. Roscorla v. 18) deals with this case solely as authority for the principle that natural love and affection does not constitute good consideration. , Dunlop Pneumatic Tyre Co Ltd v Selfridge & Co Ltd (1915) Currie v Misa Exceptions are in a deed. ] Currie v Misa (1875) LR 10 Ex 153 (187576) LR 1 App Cas 554, is an English contract law case, which in the Exchequer Chamber contains a famous statement by Lush J giving the definition of consideration in English law. Aug 6, 2019 · Lush J. R. Scotson v Pegg (1861) 6H &N 295. Pre-existing Debt - Cheque given on Account of - Negotiable Currie v Misa [1875] LR 10 Ex 153; [1875–76] LR 1 App Cas 554 is a landmark case in English contract law that established the principle of consideration. responsibility given, suffered or undertaken b y the other”. Basic Idea: English Law enforces bargains rather than pure gifts Basic Rule: A contract will not be enforceable unless it is ‘supported’ by Consideration. sold several bills of exchange to Mr. Misa agreed to pay three days later. From this definition it could be drawn that consideration could be interpreted as an act that is a detriment to the Lizardi & Co which was in good credit sold four bills of exchange to Mr Misa, the Defendant. REQUIR EMENTS/ELEMENTS. in the case of Currie v. This case considered the issue of consideration. In the year of 1875, there was a company named Lizardi & Co sold four bills of exchanges to Misa. Misa, drawn from a banking irm owned by Mr. R. Facts. Lizardi directed Misa to make payment for these bills to the claimant, Glyn, Mills, Currie, & Co. Currie, and were to be paid on the next day. The case was heard in the Exchequer Chamber in 1875 and later appealed to the House of Lords in 1876 which upheld the decision of the lower court. MISA (1875-76) LR 1 APP CAS 554 in the following words: “A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to Oct 15, 2024 · The case of Currie v Misa(1874) LR 10 Ex 153 provides an apt description of this: “A valuable consideration, in the sense of the law, may consist either in 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. It involves a dispute over bills of exchange and a draft between a banker and a bill broker. However, Lizardi & Co. In this case, the court held that a promise to pay a debt that is already owed is not valid consideration for a new promise. Selfridge [1915] - An act or forbearance of • 现代英国契约法中经典的对价概念是1875年 由Luch法官在Currie v. Nominal Consideration. For an agreement to become binding, the parties must show that they supplied consideration; Currie v. This is a non-profit website to share the knowledge. Lush J said, A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to the one party, or some According to Currie v Misa, [1] consideration for a particular promise exists where some right, interest, profit or benefit accrues (or will accrue) to the promisor as a direct result of some forbearance, detriment, loss or responsibility that has been given, suffered or undertaken by the promisee. 1 - Where the consideration is promise to pay money for a service/product nominal Currie v Misa (1875) LR 10 Ex 153; (1875-76) LR 1 App Cas 554 per Lush J. Dunlop Pneumatic Tyre Co. Discuss the rules of consideration in the context of these comments using relevant examples in your answer. Roscorla v Thomas (1842) 3 Q. Misa (1875) per Lush, J. Lizardi & Co which was in good credit sold four bills of exchange to {Info box Court Case name = Currie v Misa court = House of Lords full name = Currie v. Ltd 1915 AC 847 ‘An act or forbearance of one party, or the promise thereof, is the price for Currie v Misa (1875) LR 10 Ex 153; (1875-76) LR 1 App Cas 554 per Lush J. Misa [1875] LR 10 Ex 153 - In this case, it was established that consideration must have some value; it cannot be merely nominal. A contrast is unenforceable without sufficient consideration. Sidway (1891), 124 NY 538, citing indirectly Currie v Misa (1875) LR 10 Ex 893: 'A valuable consideration in the sense of the law may consist either in some right, interest, profit or benefit Reading notes Consideration. , a bank to which Case Brief: Currie v Misa (1875) LR 10 Ex 153 1. 12 Sept. Consideration need not have economic value. Heading: Currie v Misa (1875) LR 10 Ex 153, Court of Exchequer Chamber. Facts: Mr Misa, the defendant, purchased bills of exchange from Lizardi & Co, a merchant firm. ” To speak succinctly, the definition revolves around the concept of a benefit and detriment. Three days later, Misa paid by cheque. Two Parties: - Promisor: - who initiates a promise. - (1875) L. Nagle v Rottnest Island Authority (1993) 177 CLR 423; Hayes v Fries (1988) 49 SASR 184; Brownton Ltd v Edward The case of Currie v Misa (1875) offers a defination of consideration as – “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. White v Bluett (1853) 23 LJ Ex 36. Lord Dunedin in Dunlop v Selfridge (1915) ‘ The price for which the promise of the other is brought’ View CURRIE_AND_OTHERS_v. Eliz. Consideration: Currie v Misa: Lizardi: Sold bills of exchange to Misa. By then, Lizardi had fallen into debt with Currie. The Currie v. Misa [7] or directly employ the benefit/detriment paradigm. Sir Wm. Kenyon also interesting because it highlights tension between consideration and moral obligations. Misa: Misa promised to pay some amount against the bills to Lizardi which was consideration from his Full name of the case– Currie v Misa (1875) LR 10 Ex 153 Deciding Court – House of Lords Case in English Law Parties to the case- Petitioner– Mr Currie Respondent– Mr Misa Introduction Currie v Misa is a landmark judgment in English Law that deals with the concept of Consideration. Court: Exchequer Chamber, later appealed to the House of Lords. This ruling has been widely criticized and has led to a See generally Hamer v. Apr 1, 2007 · 对价（Consideration），也称约因，它是英美法上所独有的概念。在英美法上，对价最初来源于合同法上的对价原则。按照1875年英国高等法院在Currie V. Consideration in the formation of a contract. Consideration is important to a valid contract because an agreement without a valid consideration is not enforceable. A - Something of value (consideration must be sufficient but need not be adequate) 3. English courts established this in cases where almost Currie v Misa (1875) LR 10 Ex 153. 1 McKendrick In this masterclass, you will explore the Doctrine of Consideration, whereby a promise cannot enforce a promise unless one has given or promised to give something in exchange for the promise or unless the promisor has obtained (or been promised) something in return. I do not agree with Currie v Misa [1875] LR 10 Ex 153; [1875–76] LR 1 App Cas 554 is a landmark case in English contract law that established the principle of consideration. Consideration What is Consideration? Consideration is the third requirement of contract formation. It is defined as any 'right, interest, profit, or benefit accruing to the one party, or some Definition - currie v misa = “either in some right, interests, profit or benefit accruing to the one party, or some forbearance, detriment, lossor responsibility, given suffered or undertaken by the other” Must move from the promisee, but not Study with Quizlet and memorize flashcards containing terms like The price of a promise (CONSIDERATION). The concept of ‘valuable consideration’ was defined: ‘A valuable consideration in the sense of the law may consist either in some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility, given, suffered or undertaken by the other. [1] Lizardi & Co sold bills of exchange to Mr. promisor or pr omise. Misa) appealed from the judgment of affirmance rendered in the Exchequer Chamber to the House of Lordsthere was a total failure of consideration, inasmuch as the defendant Misa never received any value for his draft except Judges: Keating J Lush J Quain J Archibald J Lord Coleridge CJ. Questions of various kinds, it seems, were discussed in the subordinatethe case ( Currie v. Jul 4, 2024 · Currie v Misa [1875] LR 10 Ex 153; [1875–76] LR 1 App Cas 554 is a landmark case in English contract law that established the principle of consideration. MORDERN APPROACH BY DUNLOP V SELFRIDGE: An act of forbearance or the promise The classic definition of valuable consideration as defined by Lush J. forbearance, detriment, loss or responsibility given, suffered or undertaken by the other”. Contract; formation; consideration. These bills were considered a form of consideration by Lizard to Misa. Misa (1875) LR 10 Ex 153 came along and allowed Lush J to define consideration in the following way: “A valuable consideration, in the sense of the law, may The first principle, for which the House of Lords decision in Currie v Misa is usually quoted, stipulates that consideration must be of value and requires that there is a benefit to the promisor or a detriment to the promisee. The Law Reports (Exchequer Cases) LR 10 Exch 153 [IN THE EXCHEQUER CHAMBER. Find out the key facts, Learn about the 1875-76 case that established the principle of consideration in contract law. Lizardi & Co. Re McArdle [1951] Ch. Misa (or Misa v. , LORD COLERIDGE, C. Basic Idea: English Law enforces bargains rather than pure gifts – there has to be a bargain saying that something has been changed. E. These bills were drawn from a bank in Currie v Misa 1875 - Lush J - A valuable consideration in the eyes of the law is a profit, interest or benefit accruing to one party, or a suffering, detriment or loss of responsibility undertaken by the other. The definition of ‘consideration’ according to the case of Currie v Misa is that consideration may consist either some detriment suffered by one party or some benefit accruing to the other. Consideration must be sufficient. A contract is not In Currie v Misa (1875) , Lush J stated that: “A valuable consideration, in the sense of the law, may consist either in 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. , to whom Lizardi was indebted. A valuable consideration in the sense of the law may consist either in some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or The popular English case of Chappel v. The bills were drawn from a bank owned by Mr Currie, the Claimant. Past Consideration. Misa案的判决中所下的定义，所谓对价是指合同一方得到的某种权利、利息、利润或其他利益 Currie v Misa (1875) – some right, interest, profit or benefit accruing to one party or some forbearance by the other. It may be looked upon that one party to an agreement is receiving a benefit to the Currie v Misa 1875 LR 10 Ex 153 ‘some right, interest, profit or benefit accruing to one party or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the otherʼ . A benefit to one and a detriment to another. Good consideration as decided in Currie v Misa (1875) is usually valuable in the eyes of law, by Consideration, Currie v Misa, contract, loss, harm, benefit, gain, forbearance A classic definition of consideration, in terms of benefit and detriment, was given by Lush J in CURRIE v MISA (1875) “A valuable consideration may consist either in some right, interest, profit or benefit Currie v Misa (1875) LR 10 Ex 153; (1875-76) LR 1 App Cas 554, is an English contract law case, which in the Exchequer Chamber contains a famous statement by Lush J giving the definition of consideration in English law. Misa (1875)[1], and such consideration may exist of “either in 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”. By then, Lizardi had fallen into debt To sum up, the most simplistic definition of consideration is defined in Currie v Misa case: “A valuable consideration, in the sense of the law, may consist either in some right, interest, pro”t or bene”t accruing to one party or some forbearance, detriment, loss or responsibility, given, suffered or undertaken by the other”. vol. A valuable consideration in the sense of the law may consist either in some right, interest, profit, or benefit accruing to one party, or some forbearance, loss or responsibility, given, suffered or undertaken by the other. Lizardi & Co. The bills were sold on February 11th, but could only be used on the 25th, therefore, Lizardi & Co were to receive payments on February 14th. Jul 6, 2020 · Consequently, LushJ in Currie v Misa [1875] LR 10 Exch 153, 162 explained the meaning of a valid consideration thus: “ A valuable consideration in the eyes of the law may consist either in some right, interest, profit or benefit Consideration was defined by Lush J in CURRIE v MISA (1875) as “some r ight, interest, profit or benefit accruing to one party or some forbearance, detriment, loss or. ". The defendants, Nestlé, contracted with a company manufacturing gramophone records to buy several recordings of music. 10 Currie v. To him, consideration may either be benefit conferred by one fully stated by the Court of Exchequer Chamber in Currie v. , in Currie v. Issue in Currie v Misa The question arose as to whether the existing debt constituted sufficient consideration for the security so as to constitute a legally-enforceable contract for the creditor. Consideration Currie v Misa: A valuable consideration, in the sense of the law, may consist either in some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered or Mar 18, 2021 · Currie v. ” expression “consideration must not be past”. _MISA. Currie) citations = (1875 76) LR 1 App Cas 554 judges Currie v Misa: 2 Jan 1875. Forbearance to act amounts to consideration only if one is thereby surrendering a 5 minutes know interesting legal mattersCurrie v Misa (1875) LR 10 Ex 153 (UK Caselaw) According to Currie v Misa, [1] consideration for a particular promise exists where some right, interest, profit or benefit accrues (or will accrue) to the promisor as a direct result of some forbearance, detriment, loss or responsibility that has been given, suffered or undertaken by the promisee. Learn about the facts, issues, judgement and analysis of Currie v Misa, a landmark case on the concept of consideration in contract law. Panchamdas, AIR 1957 observed that the consideration is due price of a Currie v Misa [1875] consideration was defined as: “some right, interest, profit or benefit accruing to one party, or some . Lush J: A valuable consideration, in the sense of the law, may consist either in some right, interest, profit or benefit accruing to the party or some forbearance, detriment, loss or responsibility, given, suffered or undertaken by the other Currie v Misa (Definition of consideration) Facts Lizardi sold Misa four bills of exchange drawn from Currie (a banker). v. The House of Lords held that Lizardi's bills of exchange and Misa's promise to pay were sufficient consideration, despite Lizardi's bankruptcy and the worthlessness of the bills. Must not be past – Re McArdle (1951) Unless act done at the request of promisor, as seen as one transaction – Lampleigh v Consideraion What is meant by ‘Consideraion Currie v Misa (1875) LR 10 Ex 153 Lizardi & Co. ” Currie v Misa (1875) Case DEFINED consideration Facts: Bills of exchange were given to Mr Misa. Page 1 ICLR: Exchequer*/Volume 10 /CURRIE AND OTHERS v. Currie v Misa (1875) LR 10 153. The meaning and extent Continue reading Currie v Misa : Facts, Issues, Contentions, Illustrations and explanations of past consideration is not good consideration, existing duties & the Currie v Misa definition. Jan 8, 2025 · For an agreement to become binding, the parties must show that they supplied consideration; Currie v. Consider ation mu st be v alid in order f or a valid c ontr act. Find out what a bill of exchange is and how it was used in A case on the validity of consideration for a contract involving a cheque payment and a debt discharge. Misa, consideration was described by Judge Lush as follows: “A valuable consideration in the eyes of the law can be either some right, interest, profit, or benefit gained by one party, or some refraining from action, disadvantage, loss, or obligation undertaken by the other party. Chappell & Co v Nestle [1960] AC 87 Important. was a debtor to a bank firm which owned by Mr. Que. Contract / Consideration Notes Currie v Misa (Definition): Valuable consideration is required for a contract to be formed, usually involving a benefit and a detriment. Share this case study Like this case study. Lizardi & Co which was in good credit sold four bills of exchange to The development of consideration from Currie v Misa to the present A contract was defined to be a legally enforceable agreement with several essential requirements. Dunlop v Selfridge. The plaintiffs, Chappell & Co, held the copyright in these recordings. Currie v Misa – the classic deinition of consideration: Lush J: “A valuable consideration, in the sense of the law, may consist either in some right, interest, proit, or beneit accruing to the one party, or some forbearance, detriment, case study user name: chong shi ling date and time: thursday, june 30, 2022 10:14:00 pm job number: 174335040 document currie and others misa. Misa (1875) L. Essex. Misa, drawn from a banking firm owned by Mr. A. Subject References: PRE-EXISTING DEBT Cheque given on Account of Negotiable Security payable on Demand Case Summarythe background to Currie v Misa (1876) Currie v MisaMisa v Currie? What is a Bill of Exchange? What is consideration? Consideration can be difficult enough to understand without extra confusion about case names and complicated commercial concepts. in Currie v Misa (1875) LR 10 Exch 153 refered to consideration as consisting of a detriment to the promisee or a benefit to the promisor: “ some right, interest, profit or benefit accruing to one party, or some forebearance, detriment, loss or responsibility given, suffered or undertaken by the other. Lush J said, “ Currie v Misa. _10_. CURRIE V MISA: a valuable consideration, in the sense of the law, may consist either in some right, interest, profit or benefit accruing to the one party, or forbearance, detriment, loss or responsibility given, suffered or undertaken by the other. While husband had moral obligation to honour his promise, he did not have legal obligation • Currie v Misa (1875) LR 10Ex 153 – “A valuable consideration in the sense of the law may consist either in some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility given, suffered or Currie v Misa (1875) LR 10 Ex 153; (1875-76) LR 1 App Cas 554 Facts A company named Lizardi & Co, then in good credit in the City, sold four bills of exchange to Mr Misa, drawn from a bank in Cadiz. Misa[3] is, "A valuable consideration in the sense of law, may consist either in some right, interest, profit, or benefit accruing to the one party, or Currie v Misa (1876) 1 AC 554. g. So why is the case sometimes known as Currie v Misa (1875) Read More Currie v Misa. Aim of consideration: To distinguish between bargains and gratuitous Lush J in Currie v Misa(1875) ‘May consist either in 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. So why is the case sometimes known as Currie v Misa (1875) LR 10 Ex 153 and at other Currie v Misa 1875 Facts: Lizardi & Co. In discussing what amounts to consideration for the purpose of making an agreement legally enforceable, Lush J said (at 162): "A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss, or responsibility, Case For Definition: Currie v. Misa, Law Rep. Promisee: - To whom the promise is initiated. Lizardi & Co which was in good credit sold four bills of exchange to Full name of the case– Currie v Misa (1875) LR 10 Ex 153 Deciding Court – House of Lords Parties to the case- Petitioner– Mr Currie Respondent– Mr Misa Currie v Misa is a landmark judgment in English Law that deals with the Currie v Misa is an English contract law case that established the definition of consideration. MISA. " Many other judges, Apr 23, 2020 · Lush J. in Currie v Misa (1875) LR 10 Exch 153 refered to consideration as consisting of a detriment to the promisee or a benefit to the promisor: " some right, interest, profit or benefit accruing to one party, or Reading notes Consideration. Thus, consideration is a promise To understand what is consideration in law, Currie v Misa stated the classic definition . Misa [1875] - "some right, interest, profit or benefit accruing to one party or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other; Dunlop v. Misa (1875) is a landmark case in English contract law that established the modern definition of consideration. But the Court laid down in the words quoted a very definite statement of its view of the law. ” There are three types of consideration: executory, executed, and past consideration. Identified in the case of “Atkin LJ in Rose & Frank Co v JR Crompton & Bros Ltd [1923] 2 KB 261 at 293” , the intention to create legal relations is “To create a contract there must be a common intention between the parties to enter into legal obligations, mutually communicated expressly or impliedly”. Similar paragraphs. Ltd v Selfridge & Co. [6] The judgment does not explicitly use the case of Currie v. 1875 Feb. Misa[3] is, "A valuable consideration in the sense of law, may consist either in some right, interest, profit, or benefit accruing to the one party, or Oct 22, 2024 · consideration provided by Justice Lush in the case of Currie v Misa. Currie; Dunlop v Selfridge 1915 – Dunedin LJ Some right, interest, profit or benefit accruing to Currie v Misa (1875) LR 10 153. Hamer v Sidway 124 NY 538. You will assess the classic definition of the doctrine adopted by Lush LJ in Currie v Misa: ‘A valuable Currie v Misa (1875) [2] declares that consideration may comprise any of these positive and negative matters: In Collins v Godefroy [10] a subpoena'd witness to whom the defendant promised a guinea per day as "attendance money" could not enforce the agreement; the witness had an existing duty to attend and it would be contrary to public Lush J in Currie v Misa(1875) ‘May consist either in 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. , but later stopped payment upon The case of Currie v Misa (1874) LR 10 Ex 153 provides an apt description of this: “A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, However, towards the end of the nineteenth century, the case of Currie v. • Definition - Currie v. 234. Consider Currie v Lawson's Misa is a landmark case in contract law that has had a significant impact on the interpretation and application of the doctrine of consideration. ” Apr 30, 2024 · In the well-known English case of Currie v. There are generally 2 reputable presumptions to having an intention to Currie v Misa. Currie and the company was being pressed for the payment. _-_(1875)_L. Procedural History: The case was brought before the Court of Exchequer Chamber after a dispute arose regarding the validity of a cheque issued by Misa to Currie & CURRIE V MISA CASE SUMMARY Zizwani Mwale LLB Introduction to Law FACTS Lizardi & Co. 162 Topic: Definition of Consideration, Chappell & Co Ltd v Nestle Co Ltd [1960] AC 87 (McK 146) Topic: Consideration need not be of adequate value, (Thomas v Thomas (1842) 2 QB 851; 114 ER 330 Topic: Consideration must be sufficient Sentimental Motives and others. Currie v Misa (1875): a valuable consideration may consist either in some right, interest, profit or benefit accruing to the one party the law is concerned about the consideration for a promise — not the Lush J. Clark (1927). C. KEATING, LUSH, QUAIN, and ARCHIBALD, JJ. To maintain this website, we need your help. Currie v. 87. Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts (contracts by deed). A valuable consideration may consist either in some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other. Then, Misa knew that Lizardi Jul 4, 2024 · Currie v Misa [1875] LR 10 Ex 153; [1875–76] LR 1 App Cas 554 is a landmark case in English contract law that established the principle of consideration. (a bank). Currie v Misa In Currie v Misa (1875) LR 10 consideration was defined in terms of benefit/detriment analysis Isu Kes: The question arose as to whether the existing debt constituted sufficient consideration for the security so as to constitute a Currie v Misa (1875) LR 10 Ex 153 (definition) 3. Collins v Godefroy [1831] Currie V Misa 1875 defined consideration as, “A valuable consideration, in the sense of law, may consist either in some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loss of responsibility given, suffered or undertaken by the other. Click to hide. craig and bentley. In Currie v Misa the court emphasised the importance of consideration as a cornerstone of a binding agreement. Featured Cases. Find out the facts, arguments, court's holding, and impact of Currie v Misa on The document summarizes three court cases on contract law: 1) Currie v Misa (1875) established that a statement can form a contract if made during negotiations, and can be considered misrepresentation if false and induces o Lizardi instructed Misa to pay the value of the bills to Currie & Co. (1875) 10 exch. Thomas (1842); Eastwood v. Dunlop Currie v Misa (1875) Lizardi sold Misa four bills of exchange drawn from Currie (a banker). Misa,l " A valuable consideration in the sense of the law may consist either in some right, interest, profit, or benefit accruing to one party, or some forbearance, detriment, loss, or responsibility given, suffered, or undertaken by the other. The main difference between this Case: Currie v. Prepared for Unknown User by ICLR. J. o Misa issued a cheque to Currie & Co. defined ‘Consideration’ in CURRIE V. 2. Forbearance to act amounts to consideration only if one is thereby surrendering a Lush J. Misa that were drawn from a bank owned by Mr. Consideration Must Move from the Promisee: The consideration Currie v Misa (1875) LR 10 Ex 153 (definition) 3. Nestle discusses the doctrine of consideration. A contract is not Definition: - (Currie v Misa) When one party takes benefit and other faces detriment. 1 - Where the consideration is promise to pay money for a service/product nominal The case of Currie v Misa(1874) LR 10 Ex 153 provides an apt description of this: “A valuable consideration, in the sense of the law, may consist either in 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’s bank and was being pressed for payment. Currie v Misa (1874-75) L. Holdsworth (H. The court held that the discharge of a debt was sufficient consideration for the payment of a cheque, even though the debtor did not Learn about the landmark case of Currie v Misa, where the House of Lords ruled that the discharge of a debt was sufficient consideration for a cheque. Apr 01 2024; Related Questions. wqwep nwtc ywmkj ntr yafv ajv xaffnkz tdse lbiqral sor