Quote from: MPOE-PR on September 26, 2012, 05:56:52 PM

Quote from: kjj on September 26, 2012, 04:48:47 AM

Quote from: JoelKatz on September 26, 2012, 01:50:46 AM

Quote from: bitcoin.me on September 26, 2012, 01:42:29 AM

http://en.wikipedia.org/wiki/Consideration_in_English_law

There doesn't need to be consideration in this case because there is detrimental reliance sufficient to establish promissory estoppel (see my other post). But there was consideration -- Goat acquired shares on GLBSE, transactions for which GLBSE receives a commission.

You'd need a lawyer with huge balls to argue that this counts as consideration.

A peppercorn doesn't cease to be good consideration should it become known the payee doesn't like pepper and has thrown away the corn.

Consideration isn't a synonym for gain or profit. It requires an exchange, a trade. The commission paid isn't paid for the promise, it is incidental to it. It may have happened because of the promise, but not in consideration of it.