Reference no: EM13445 , Length: Word Count: 1500

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

Discuss the accuracy of this statement.

Your answer should include a detailed explanation of "nominal" consideration  and "sufficient" consideration and how these legal concept interact in situations like that in Williams v Roffey Bros & Nicholls (Contractors) Ltd [1991] 1 QB 1. Your answer should also discuss whether Australian contract law should (or should not) provide greater clarity as to what is (or is not) sufficient consideration.

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