Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Consideration must move from the promise - Law of Contract
Conversely the rule that "consideration must move from the promisee" means such only a person who has personally given consideration to a promise can sue for breach to the promise. Well a person who has not given consideration about a promise cannot sue the promisor with the simple reason such he cannot expect to get something for nothing. Hence the common law regards a contract like a bargain between the parties to a commercial transaction thus each of whom has bought the promise to the other with his own promise or like act.
Actually this is illustrated through the case of Dunlop v Selfridge in whereas the appellants were motor tyre manufacturers and sold tyres to Messrs Dew & Co. That who were motor accessory dealers. Hence under the terms of the contract Dew & Co. agreed not to sell the tyres below the Dunlop's list prices, and as the Dunlop's agents, to obtain from other retailers a related undertaking. Well in return for this undertaking Dew & Co. were to obtain discounts, some of that they could pass on to retailers who bought tyres. But Selfridge & Co. accepted two orders from customers to Dunlop covers at a lower price. Whether they obtained the covers through Dew & Co. and signed an agreement just not to sell or offer the tyres below list price.
Further it was further agreed that by £5 per tyre so sold should be paid to Dunlop through way of liquidated damages. Through Selfridge's supplied one of the two tyres ordered below list price. Though they did not actually supply the other, although informed the customer such they could only supply it at list price. Well the appellants claimed an injunction and damages against the respondents to breach of the agreement completed with Dew & Co., claiming such Dew & Co. were their agents in the matter. Actually it was held that there was no contract made between the parties. Thus Dunlop could not enforce the contract made between the respondents and Dew & Co. since they had not supplied the consideration. Smooth if Dunlop were undisclosed principals, such there was no consideration moving between them and the respondents. Moreover The discount received through Selfridge was part of that given through Dunlop to Dew & Co. since Dew & Co. were not bound to confer any part of their discount for retailers the discount received through Selfridge operated only like consideration between themselves and Dew & Co. and could not be claimed through Dunlop as consideration to support a promise not for sell below list price.
Commencement of Business: Section III (1) provides that a public company which has issued a prospectus cannot commence business or exercise any borrowing powers unless:-
Humungus Retailing Co is a large retailing organization that has expanded rapidly over the last 2 years. It now has some 50 high street outlets each employing a small core of ful
Determine the focal point for coordination The focal point for coordination is point C, which is the unique symmetrical Pareto efficient outcome. Compared to this outcome the N
Functions of Law: we discuss like, how can be utilized Functions of Law:;- are (i) For Rules of law facilitate administration of justice. It is an instrument used
Money Lent: According to the decision in Re: David Payne & Co Ltd (23), a person lending money to a company is not bound to enquire as to why the company requires the money. H
/* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-prior
Q. Show the Number of phoenix operators ? A key challenge in quantifying phoenix activity is estimating the number of companies engaging in the activity. In 2001/02, 1.6% of co
Question1 Describe the term banking and what are the permitted businesses for a banking company as per BR Act 1949 Question2 When is a negotiable instrument considered as
Prospect of inflationary wage settlements The same logic can be applied to various supply side policies. Take, for example, the prospect of inflationary wage settlements. If w
Good Faith - meetings and resolutions: The directors must act in good faith when calling a meeting,. Thus, in Cannon v Tasks, the directors called the annual general meeting
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd