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

Requisites in form - negotiable instruments, Requisites in Form - Negotiabl...

Requisites in Form - Negotiable Instruments  To satisfy to the statutory definition the document alleged such to be a bill of exchange must be: like  (a) Unconditional. Example

Illustrate the economic and social council of united nations, Illustrate th...

Illustrate the Economic and Social Council of United Nations. UN Economic and Social Council: The Economic and Social Council (ECOSOC) functions as the central forum for

Personal jurisdiction, A) As members of the WTO, recognize three (3) shared...

A) As members of the WTO, recognize three (3) shared interests Japan, the EU, the USA and China all share.   B) A court only requires to have personal jurisdiction over a par

Principle of floating charges, Principle of floating charges: The gene...

Principle of floating charges: The general purpose of the rule is to prevent an unsecured creditor of an insolvent company from getting advantage over other creditors by obtai

Different methods used in interpretation of statutes, (a)  In Malaysia, the...

(a)  In Malaysia, there are many sources of written and unwritten law. Discuss the sources of unwritten law.      (b)  What are the different methods used in interpretation of s

Distribution of surplus assets, Distribution of Surplus Assets: If the...

Distribution of Surplus Assets: If the debts are paid in full the liquidator should apply what remains in repayment of capital paid on shares and then distribute any residue t

Identify the issues which have created negative impact, Mr. Andrew is the C...

Mr. Andrew is the Chairman of Board of Directors of Stylish Garments plc. He believes that the success of the business depends mainly on a committed, loyal work force. Therefore th

Change of name - name clause, Change of Name: A company's name may be ...

Change of Name: A company's name may be changed voluntarily or compulsorily (a)   Voluntary Change A company's name may be changed voluntarily: i. Under s.2.1 if a sp

Identified and create all contract, The Laws of Contract DSL Limited decide...

The Laws of Contract DSL Limited decide to buy a ferry on operate it between CMI and Downtown, Kingston. They did not have enough money to buy the vessel, so they borrow some from

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