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

Invitation to treat - law of contract, Invitation to Treat - Law of Contrac...

Invitation to Treat - Law of Contract Well this is a mere invitation through a party to another or others to make offers.  Another time the offeror become offeree and invitee

Assets and liabilities of the company, Assets and liabilities of the compan...

Assets and liabilities of the company: Within 14 days of the making of the order for winding up a statement of affairs must be delivered to the liquidator (Official Receiver)

Determine the name of tort, Patrick works in the same office as Marian...

Patrick works in the same office as Marian and they do not work well together. One day, Marian got credit for a job well done and Patrick got angry over it. He walked int

Determine the areas of open method of coordination, Determine the areas of ...

Determine the areas of open method of coordination The EU has indicated its intention to employ the OMC, but so far there is little evidence of progress. These areas include E

Liability , Liability: Liability under the section may arise on the de...

Liability: Liability under the section may arise on the death of a member if the death reduces the membership below the statutory minimum for the particular company and:

Distinguish between industrial and employee relations, Question 1: (i) ...

Question 1: (i) Distinguish between industrial relations and employee relations. (ii) State the environmental factors that affect employee relations. (iii) Give five r

Reaction of other countries - policy coordination, Reaction of Other Countr...

Reaction of Other Countries - Policy coordination  A final problem associated with the policy coordination is that countries not involved in the policy agreement may react in s

Indicator based definition of phoenix activity, Q. Indicator based definiti...

Q. Indicator based definition of phoenix activity? Many stakeholders emphasised the importance of educating the community about the signs or indicators of phoenix activity. A d

Types of subsidiary legislation, TYPES OF SUBSIDIARY LEGISLATION: Howe...

TYPES OF SUBSIDIARY LEGISLATION: However the definition of subsidiary legislation in s.2 of the Interpretation and General Provisions Act reflects the great variety of nomencl

Money lent - effect of ultra vires transaction, Money Lent: According ...

Money Lent: According to the decision in Re: David Payne & Co Ltd (23), a person lending money to a company is not bound to enquire as to why the company requires the money. H

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