판결 이유
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.
사실관계
The case concerned a bill of exchange and the question of whether the holder had given valuable consideration for it.
판결 요약
Lush J provided the classic definition of consideration that has been adopted as the standard formulation in English contract law. The court held on the facts that consideration had been provided.
주요 인용문
"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
후속 처리
Classic and most frequently cited definition of consideration in English law.