What is the ratio in Stilk v Myrick?

The ratio is that performing duties one is already contractually bound to perform cannot constitute valid consideration for a new promise of additional payment.

What did the court decide in Stilk v Myrick?

The court decided the crew was not entitled to extra wages because working the ship home was within their existing contractual duties.

Why is Stilk v Myrick important for contract law?

It established the pre-existing duty rule preventing parties from extracting additional payments for existing obligations, though modern cases have refined this principle.

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