Two questions.

Firstly, is it enforceable.

Secondly, if it were, would I owe £10 in Bitcoin now, or the amount of Bitcoin at the date £10 would get you 5 years ago?

I believe I've answered the first question, since:

Under the donative-promise principle, a simple, un-relied upon donative promise is unenforceable.

However, say hypothetically it was enforceable, would I owe £10 or £1000 (since bitcoin has seen a massive increase in 5 years)?

P.S. I never bought or owned the promised Bitcoin in the first place


Not enforceable. Firstly, because there is no consideration moving from the friend (becoming of a certain age probably wouldn't count as a good consideration). Secondly, because it was a friend, and, absent evidence of the contrary (e.g. written agreement), no intention to create legal relations is presumed.

If you told him you'd give him £10 by specific means — that's what you would have to give him, by those means, be it goats or bitcoins.

  • Thank you firstly! So say 1 goat costs £10 5 years ago, and today 1 goat costs £1000. Would I owe £10 or 1 goat (£1000)? Just so I'm super clear Feb 11 at 0:21
  • @JonathanClark If you agreed to owe a dead goat, you would now owe £10 in 1/100 of a dead goat. However, if you agreed to give an alive goat, you would have to re-negotiate the terms, or go to court to resolve it.
    – Greendrake
    Feb 11 at 0:24
  • Maybe I should have asked in Bitcoin after all(!) So from that I believe I owe either £10, or it would have to be re-negotiated in court if that was contested? Feb 11 at 0:26
  • 1
    @JonathanClark You'd certainly owe just the current bitcoin equivalent of £10.
    – Greendrake
    Feb 11 at 0:33

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.