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Consideration must pass from the promisee. It must be sufficient but not necessarily adequate. Past consideration is generally not valid consideration. Executory consideration is generally valid consideration.
1.Which of the following statements is true of consideration?
A Past consideration is sufficient to create liability on a bill of exchange
B Suffering some loss or detriment is not valid consideration
C Consideration can be in the form of any act, even if that act is impossible to perform
D Performance of an illegal act is valid consideration
答案：【A】
Past consideration is sufficient to create liability on a bill of exchange – this is one of the few exceptions to the rule on past consideration. Suffering loss or detriment is valid consideration. Impossible or illegal acts are not valid consideration.
Where a party accepts part payment for a debt, they may at a later date request payment of the amount outstanding unless the other party provided extra consideration when making the part payment.
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