... one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other'. A more up-to-date version of this definition however, is from the case, Dunlop v Selfridge (1915), 'An act or forbearance of one party, or the promise thereof, is the price for which the promise of the other is bought'. Consideration is the distinguishing factor between what is a contract or a gift. The rules of consideration consist of 5 different categories. Consideration need not be adequate but it must be sufficient. This is shown in the cases of Thomas v Thomas (1842) and White v Bluett (1853), these cases state that what is promised must be real, tangible and have some actual value, this is considered to be sufficient consideration. Items with no apparent value have also been classed as amounting to valuable consideration, seen in the cases of Chappell v Nestle (1960) and Bainbridge ...

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