Modification of the Common Law Rules on Consideration by Ghana's Contracts Act, 1960 (Act 25)

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This lecture discusses the the extent to which Ghana's Contract Act, 1960 (Act 25) has modified the common law rules on consideration.

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Summary :
Exceptions to requirements of consideration under Ghanaian law.
1. Firm offers or promise to keep an offer open for a period of time
2. Waiver of debt or part payment of debt.
3. Performance of a preexisting legal obligations
4. Consideration need not move from promisee

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