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Consideration may be executory or executed but it must not be pastDicuss and illustrate your answer with various case laws?
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∙ 12y ago
Executed and executory consideration is enforced by the common law courts but a past consideration is not. This is because a past consideration arises where the work is done before the obligation or offer to pay is made. See the case of EASTWOOD VRS KENYON.
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∙ 12y ago
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What are the type of consideration under tanzania law?
there are only two types which are executory consideration and executed consideration as provided under section 2(1)(d) law of contract act(cap 345 r.e 2002).
Difference between executory executed and past consideration?
EXECUTORY CONSIDERATION Consideration is executory when there is an exchange of promises to perform acts in the future. For example, A promises to deliver widgets to B at some future date and B promises to pay A for the widgets when he receives the shipment. If A does not deliver the widgets to B, B can sue A for breach of contract. EXECUTED CONSIDERATION When a promise is made in exchange for an act, when that act is performed, it is executed consideration. Using the example above, if A timely delivers the widgets to B, A's consideration becomes executed. PAST CONSIDERATION Every contract requires an offer, acceptance, and consideration. Consideration isthe exchange of benefit and detriment (e.g., the making of a promise in exchange for an act). If a party voluntarily acts and then the other party makes a promise, the act is said to be "past consideration" (since the act was already performed and not made in exchange for the promise). For example, A gives B a ride to the market and back home again. When A delivers B to his house, B promises to give A some gas money. A cannot sue B to enforce B's promise since the consideration (A's act of giving B a ride) occurred beforeB's promise. A gave B the ridewithout expecting anything inreturn.(A did not give B a ride in exchange for B giving A gas money.)
Can an executory contract be rescind?
Yes!. If there is a written expiration period or naturally 30 days if not executed
Can you distinguished Contract of Sale from contract to sell?
Contract to sell is an executory contract while contract of sale is an executed contract.
Difference between executed and executing contracts?
An executed contract is a contract that has been completed. All parties have signed and its all done and closed. Executory is one that is almost done, but they are waiting on for example: Money!
Explain the different type of consideration in law?
The two types of consideration are executory and executed consideration. Executor consideration happens when promise to perform the act is in the future. On the other hand, executed consideration takes place when the promise of an act is already completed.
Is an oral contract to sell a house binding if the buyer paid the price and received the deed of conveyance?
You have not provided enough detail. If the deed was executed and delivered in exchange for the consideration a contract to sell would be moot. You need to explain why you're asking if that oral contract is binding.You have not provided enough detail. If the deed was executed and delivered in exchange for the consideration a contract to sell would be moot. You need to explain why you're asking if that oral contract is binding.You have not provided enough detail. If the deed was executed and delivered in exchange for the consideration a contract to sell would be moot. You need to explain why you're asking if that oral contract is binding.You have not provided enough detail. If the deed was executed and delivered in exchange for the consideration a contract to sell would be moot. You need to explain why you're asking if that oral contract is binding.
How did Patrick Pearse die?
He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.
What are the rules that govern consideration in a valid contract?
1. Consideration must move at the desire of the promisor-The act or forbearance must be done at the desire or request of the promisor. If it is done without his request or at the request of a third party it will not be a valid consideration. 2. Consideration need not be adequate but must be sufficient-It is not necessary that there must be full return for the promise. There must be something rather than nothing. The law has left the quantum of consideration to be decided by the respective parties. Thus, the law will not object to the inadequacy of consideration.The law will not enforce a promise even if it is without consideration. 3. Past consideration is not consideration 4. Forbearance to sue may be good consideration 5. Performance of existing duties. A person who has not provided consideration cannot sue to enforce a promise.
Which is correct - 'full executed' or 'fully executed'?
Fully executed.
Which is correct 'fully executed' or 'fully-executed'?
fully executed documents
How was Nayan Khan executed?
How was Nayan Khan executed? How was Nayan Khan executed?
