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:

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.
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

What sort of bailment, Houghland, a passenger in one of McAnn's buses, had ...

Houghland, a passenger in one of McAnn's buses, had his suitcase stored in a luggage comp of the bus for a trip from Brisbane to Cairns. The suitcase was lost during the course of

Resolution for the variation - statutory provisions, Resolution for the var...

Resolution for the variation - Statutory provisions: Where any application is made pursuant to this provision, the variation shall not have effect unless and until it is confi

McDonald''s VS Tim Horton''s sustainability report 2011, 1. set outs the di...

1. set outs the differences between the reports in terms of range of issues dealt with in the report and the depth of the coverage. 2. Explain the differences between the two repor

State the term - monetary policy coordination, State the term - monetary po...

State the term - monetary policy coordination Criticisms have been put forward on proposals for enhanced fiscal and monetary policy coordination. This policy coordination might

Appointment of arbitrators, Appointment of Arbitrators However under s...

Appointment of Arbitrators However under sec 12(1) the parties are free just for agree on the procedure of appointing arbitrators. Therefore under sec 31(1) the parties are

Bills, Bills: Further an Act of Parliament begins as a Bill that is th...

Bills: Further an Act of Parliament begins as a Bill that is the draft of law that Parliament intends to make. In section 46(1) of the constitution states like "the legislati

Article 4 - state responsibilty, Article 4 - State Responsibilty Articl...

Article 4 - State Responsibilty Article 4. Under this Article a State shall be responsible for those territories in its jurisdiction which have different status under its domes

Article 3 - state responsibilty, Article 3 - State Responsibilty Artic...

Article 3 - State Responsibilty Article 3. This article is about the Characterisation of an act of a State as Internationally wrongful. A local law that results into violatio

Directors report - accounts and audit, Directors Report: By S.157 (1)...

Directors Report: By S.157 (1) the balance sheet must have attached to it a directors' report on the company's affairs, including the amount, if any, which they recommend shou

Impose a duty on directors, Impose a duty on directors: A company is, ...

Impose a duty on directors: A company is, however, free to impose a duty on its directors to attend board meetings within a certain period of time and to prescribe the consequ

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages