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one key requirement for contract formation is consideration or the bargain for exchange of promises or performances but what if a person promises to do something that he or she is already legally obligated to do in folks vs beer we explore the pre-existing duty rule julia beer secured a judgment against john folkes for approximately 2 000 pounds plus interest folks asked beer to allow him to pay over time the parties executed an unsealed agreement whereby folks agreed to pay 500 pounds immediately and beer agreed not to pursue legal enforcement of the judgment if folks made twice yearly payments until two thousand pounds was paid in full the agreement didnamp;#39;t expressly refer to the interest awarded in the judgment after folks paid two thousand pounds in ance with the agreement beer filed suit against him to recover interest in response folks argued that the partyamp;#39;s agreement was an enforceable contract that precluded beer from seeking legal enforcement of the original ju
