Despite all its criticism, the doctrine of consideration, together with offer and acceptance and the requirement of intention to enter into a contract, remains the core element of a legally binding bargain and a fundamental principle of the English law of contract. Yet its develop- ment in the second half of 20th century raises some questions to what extent it still serves its functions. Particularly judicial decisions over the past thirty years are difficult to reconcile with formally still binding prec- edents. Due to the emergence of concepts such as ‘practical benefit’ or promissory estoppel the original scope of the doctrine of consideration has been radically restricted, what leads to its gradual ‘fading’ against the background of many exceptions to it. The aim of this paper is to look at the most significant cases and essential rules of the doctrine, and to ask whether despite its ‘fading’, the doctrine still plays any useful role in English law.