UWI OPEN CAMPUS- MGMT2021 - Business Law

With respect to the doctrine on Consideration, Past Consideration is 'irrelevant'

Critically discuss the statement above, with the following Three (3) applicable case laws on the subject matters below:

1. State clearly :

The issue

Basic facts of the Cases

The Judgement

Case#1. The claimant, Cook, lent the defendant, Wright, 600. The loan was unsecured and was to be repaid within one year. The parties agreed that, if the loan was not repaid within one year, the defendant would give the claimant a life interest in certain property he owned. The loan was not repaid within one year and the defendant did not give the claimant a life interest in the property. The claimant issued proceedings claiming a life interest in the property.

Case#2. The claimant, Selectmove, agreed to let the defendant, Novello, have certain premises for a period of five years. The agreement was subject to a covenant not to assign the lease without the consent of the claimant. The claimant did not give its consent to an assignment of the lease and the defendant purported to assign the lease to the third party, Wilkinson. The claimant issued proceedings claiming damages for breach of the covenant not to assign.

Case#3. The claimant, Eastwood, agreed to buy the defendant, Kenyon's, estate. The sale was subject to a number of conditions, including the payment of stamp duty. The claimant paid the stamp duty and took possession of the estate. The defendant then refused to complete the sale. The claimant issued proceedings claiming specific performance of the contract.