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

Protection of hirer - sales of goods, Protection of Hirer - Sales of Goods ...

Protection of Hirer - Sales of Goods In the S.7 of the Act makes certain provisions void whether they are contained in such the hire purchase agreement, like e.g.: 1) Any t

Convening of general meetings, Convening of General Meetings: General ...

Convening of General Meetings: General meetings are normally convened by the Board of Directors pursuant, to the relevant provision of the company's articles, such as Table A,

State the principle of absolute immunity, Explain the principle of absolute...

Explain the principle of absolute immunity The absolute immunity principle gradually eroded and restrictive immunity approach was followed. However, many developing countries r

Open national bidding, QUESTION 1 (a) What are the conditions for use o...

QUESTION 1 (a) What are the conditions for use of the Request for Sealed Quotation method? (b) Explain the procedures to be followed for the preparation of a shortlist for t

Unwritten sources , UNWRITTEN SOURCES OF ENGLAND LAW: However common l...

UNWRITTEN SOURCES OF ENGLAND LAW: However common law may be illustrated as that branch of the law of England that was developed through the English courts on the basis of the

Explain self determination, Explain Self determination Self determinat...

Explain Self determination Self determination is actually the foundation of United Nations (UN) Charter. It is defined as a right of people to determine and to choose their ow

Ratio decidendi, Ratio Decidendi Conversely "ratio decidendi" of a cas...

Ratio Decidendi Conversely "ratio decidendi" of a case consists of the material facts of such case and the decision made through the judge on the basis of those facts. So hen

Define the term multiple decision makers - strategic voting, Define the ter...

Define the term multiple decision makers - Strategic Voting The following lines, from Austen-Smiths' (1986) clarify the position quite succinently. He writes, 'so in elections

Condition for liquidation - winding up, Condition for liquidation: The...

Condition for liquidation: The liquidation itself may render a charge over the company's assets void in any of the following circumstances: (a) the charge was not reg

Implied powers rule, Implied powers rule: The courts would regard such...

Implied powers rule: The courts would regard such things as impliedly within the company's powers unless they are "expressly prohibited" by the memorandum. The range of transa

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages