Executed consideration - types of consideration, Business Law and Ethics

Assignment Help:

Executed Consideration - Types of Consideration

Actually Executed consideration is constituted through something done by the plaintiff because to a promise made with the defendant.  Although it is good consideration to support the contractual claim.

Examples

Some conditions are as follow:

  1. Whether in example (2) above Onyango had paid to the suit in advance then the payment would be the executed consideration to Munene's promise.
  2. Well Mutiso puts an advertisement in the newspapers such he has lost his goat of a certain description and so promises to pay Shs200 for anybody who returns it. But Onyango reads the advertisement then goes to look for the goat where finds it in the bushes near the Bomas of the US and returns it to Mutiso. Hence what Onyango has done is, what constitutes the executed consideration required for make Mutiso's promise binding on him.

Related Discussions:- Executed consideration - types of consideration

Contract in relation to business, Conrad put an advertisement in a newspape...

Conrad put an advertisement in a newspaper on 19 November offering to sell his motor boat for $35,000. On 21 November, Joe rang Conrad and said he was prepared to pay $30,000 for t

Secured creditors - winding up, SECURED CREDITORS: A secured creditor ...

SECURED CREDITORS: A secured creditor may: (a) realize his security and prove as an unsecured creditor for the balance (if any) of his debt; (b)value the security and prov

Undischarged bankrupts, Undischarged Bankrupts: S.188 provides that if...

Undischarged Bankrupts: S.188 provides that if an undischarged bankrupt acts as director of any company without leave of the court he shall be liable to imprisonment for a ter

Traditional case brief, The  defendants, while sympathetic, may believe tha...

The  defendants, while sympathetic, may believe that the ultimate responsibility of a child's safety and welfare belongs to the parent themselves. To the extent that the parents we

Recovery of possession of goods, Recovery of Possession of Goods Howev...

Recovery of Possession of Goods However below S.15 where two-thirds or more about the hire-purchase price has been paid the owner is such precluded from enforcing the rights a

Quorum, QUORUM: However a quorum is the minimum number of persons who ...

QUORUM: However a quorum is the minimum number of persons who must be present at a meeting in order that the meeting may validly transact the business for that it was convened

What are the key elements of a conflict, Question: (i) Define the te...

Question: (i) Define the term "conflict", "grievance" and "dispute" (ii) What are the key elements of a conflict? (iii) Describe the transformation process of a

AUDITING, EXPLAIN THE KNGSTON COTTON MILL CASE

EXPLAIN THE KNGSTON COTTON MILL CASE

Determine the term - real income effects, Determine the term - Real Income ...

Determine the term - Real Income Effects This linkage between countries takes place through the current account of the balance of payments. It occurs when a change in one count

Fiduciary duties - company management, Fiduciary Duties: The fiduciary...

Fiduciary Duties: The fiduciary duties of directors arising from their fiduciary relation to the company have been the subject of consideration in an enormous body of case law

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd