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

District magistrate''s court - criminal jurisdiction, District Magistrate's...

District Magistrate's Court - Criminal Jurisdiction However Statute Law like as Miscellaneous Amendments Act 1983 amended the criminal jurisdiction of district magistrate's co

Describe the term banking, Question1 Describe the term banking and what ar...

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

Unsecured ordinary debts, UNSECURED ORDINARY DEBTS: A secured creditor...

UNSECURED ORDINARY DEBTS: A secured creditor obtains payment (to the extent that his security is adequate i.e. if it exceeds in value the amount owing to him) because he has a

Reduction of capital, Reduction of Capital:   4.1 The general rule ...

Reduction of Capital:   4.1 The general rule is that it is illegal for a company to reduce its capital. This is so because such a reduction would be tantamount to reducing

The occupational, QUESTION The Occupational, Safety and Health Act 2005...

QUESTION The Occupational, Safety and Health Act 2005 states that Every employer shall, so far as is reasonably practicable, ensure the safety, health and welfare at work of

Legal environment of business, Legal Environment of Business Invention...

Legal Environment of Business Inventions "R Us (IRU) advertises invention development services and has aggressively advertised its services on-line, in magazines, and on radio

Defining phoenix activity, Stakeholders felt the working definition was bro...

Stakeholders felt the working definition was broadly appropriate. It was also noted that the Treasury definition, used as the working definition, has been endorsed by the ATO. A nu

When was the concept of refugee expanded, When was concept of refugee expan...

When was concept of refugee expanded Refugee law encompasses international legal instruments including the following : The 1951 United Nations Convention relating to the Status

Difference fixed and floating charge, Part A Companies can raise fina...

Part A Companies can raise finance by borrowing money and securing the debt by way of fixed or floating charge. Using case law in your answer explain what is the distinction b

Strategic planning, Select an existing business that utilizes short, medium...

Select an existing business that utilizes short, medium, and long-term strategic planning. You may also use your own company. Consider how the organization's operational-level plan

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