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“Consideration does not have to be adequate or commercially realistic, nor does it have to be expressed in monetary terms, it merely needs to be “sufficient”.

Discuss the accuracy of this statement.

Your answer should discusswhat is meant by ‘inadequate’ or ‘nominal’ consideration and provide contrasting scenarios of what is and is not ‘sufficient’ in the eyes of the law, citing a number of relevant cases, explaining the decisions of the court in each.

You must use a number of reputable academic sources outside of the prescribed text and follow the AGLC guide for footnotes and bibliography.

Marks are specifically awarded for the above. Failure to conduct adequate research or to properly acknowledge sources may result in failing the assignment or further penalties.



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