''Currie v Misa'' (1875) LR 10 Ex 153; (1875–76) LR 1 App Cas 554, is an

English contract law English contract law is the body of law that regulates legally binding agreements in England and Wales. With its roots in the lex mercatoria and the activism of the judiciary during the industrial revolution, it shares a heritage with countries ...

case, which in the Exchequer Chamber contains a famous statement by

Lush J Lush may refer to: People Music * Lush (band), a British rock band * ''Lush'' (Mitski album), a 2012 album by Mitski * ''Lush'' (Snail Mail album), a 2018 album by Snail Mail * "Lush", a single by Skepta featuring Jay Sean * ''Lush 3'', a si ...

giving the definition of

consideration in English law Consideration is an English common law concept within the law of contract, and is a necessity for simple contracts (but not for special contracts by deed). The concept of consideration has been adopted by other common law jurisdictions, includin ...

. Lush J said,

Facts

A company named Lizardi & Co, then in good credit in the City, sold four

bills of exchange A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a ...

to Mr. Misa, drawn from a bank in Cadiz. Mr. Currie was the owner of the banking firm and the plaintiff bringing the action. The bills of exchange were sold on the 11th of February, and by the custom of the bill, brokers were to be paid for on the first foreign post-day following the day of the sale. That first day was the 14th of February. Lizardi & Co. was much in debt to his banking firm, and being pressed to reduce his balance, gave to the banker a draft or order on Mr. Misa for the amount of the four bills. This draft or order was dated on the 14th, though it was, in fact, written on the 13th, and then delivered to the banker. On the morning of the 14th, the manager of Misa's business gave a cheque for the amount of the order, which was then given up to him. Lizardi failed, and on the afternoon of the 14th the manager, learning that fact, stopped payment of the cheque.

Judgment

Exchequer Chamber

Lush J, Archibald J, Quain J held that the banker was entitled to recover its amount from Mr Misa.

Lord Coleridge CJ John Duke Coleridge, 1st Baron Coleridge, PC (3 December 1820 – 14 June 1894) was an English lawyer, judge and Liberal politician. He held the posts, in turn, of Solicitor General for England and Wales, Attorney General for England and Wales ...

dissented.

House of Lords

The House of Lords upheld the decision of the majority in the Exchequer Chamber. Lord Chelmsford gave the opinion, with which Lord Hatherley and Lord O'Hagan concurred.

Notes

{{reflist, 2 English enforceability case law English consideration case law House of Lords cases 1875 in case law 1875 in British law

Facts

Judgment

Exchequer Chamber

House of Lords

See also

Notes