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.’
Lush J
(1875) LR 10 Exch 162, (1875) LR 10 Exch 153, (1876) 1 AC 554
England and Wales
Contract
Leading Case
Updated: 01 November 2021; Ref: scu.630712