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

Warranties - terms used in contract, Warranties - Terms used in Contract ...

Warranties - Terms used in Contract Conversely the following are the warranties implied by the Act like: (a) Quiet possession with (s.14 (b)). However this provision is int

Case study:employment law, Jonathan has been in the continuous employment o...

Jonathan has been in the continuous employment of Dockland cleaning and laundry Co. Ltd since 1st August 2000. He is also a member and secretary of the Cleaning and Laundry Workers

AUDITING, EXPLAIN THE KNGSTON COTTON MILL CASE

EXPLAIN THE KNGSTON COTTON MILL CASE

Explain the elements of governmental authority, Explain the elements of gov...

Explain the elements of governmental authority The theme of these draft laws is mentioned in Article 1, which says that every internationally wrongful act of a State entails th

Evolution of contracting , Evolution of Contracting  Contracts have evo...

Evolution of Contracting  Contracts have evolved over centuries. It is a lawful binding relation between two or more parties. The contractual relationships can occur - from a s

Ethics, Assignments should be submitted on or before the due date. Zero mar...

Assignments should be submitted on or before the due date. Zero mark will follow late submission of an assignment unless you have an acceptable reason approved by the instructor.

Directors powers, Directors Powers: Equity regards directors as holdin...

Directors Powers: Equity regards directors as holding their powers on trust for the company. They can only exercise those powers for the benefit of the company, otherwise the

Approval of the scheme - mergers and winding up, Approval of the scheme - m...

Approval of the scheme - mergers and winding up: A scheme of arrangement was agreed between Hambros and Hellenic whereby the shareholders of Hellenic were to have their shares

Formation of contract - law of contract, Formation of Contract - Law of Con...

Formation of Contract - Law of Contract However a legally binding agreement prepared between two or persons or more parties.  Whereas it has also been explained as a promise o

Qualified acceptance, Qualified Acceptance It might be as the drawee is ...

Qualified Acceptance It might be as the drawee is prepared for accept the bill since only subject to some adjustment. Any type of acceptance which varies the effect of such a bi

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