Foakes v. Beer
House of Lords
L.R. 9 A.C. 605 (1884)
Relevant factsFree
After Beer (defendant) won a judgment against Foakes (plaintiff) for a debt of 2,090 pounds, the parties agreed Foakes would pay it off in an initial payment and installments, with Beer waiving any interest; once Foakes finished paying the full 2,090 pounds, Beer sued him for the interest that had accrued.
IssueFree
Whether a promise to pay a preexisting debt is consideration for a new contract.