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Discuss the limitations of short-term memory and describe two ways that they can be overcome. Why is short-term memory sometimes called "working memory" and, according to Alan Baddeley, what are four different components of working memory?
Past Consideration
A benefit already provided or an action already performed, which cannot legally constitute consideration for a current contract.
Consideration
A value that is exchanged between parties in a contract, making the agreement legally binding.
Promissory Estoppel
A legal principle that prevents a party from withdrawing a promise made to another party, if the latter has reasonably relied on that promise to their detriment.
Hamer v. Sidway
A landmark case in contract law regarding forbearance as consideration, where a promise not to do something can be as legally binding as a promise to do something.
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