- 18 Marks
PBL – APR 2014 – L1 – Q7 – Consideration in Contract Law
Explanation of the principle that consideration must be sufficient but not adequate, and application to a scenario involving partial debt settlement.
Question
A) “Consideration must be real or sufficient but need not be adequate”. Explain
B) A owed B the sum of GHS1,000.00. B promised to accept the sum of GHS500.00 from A in full settlement of the debt. A agreed and made payment to B accordingly. B now demands the payment of the balance of GHS500.00. Explain whether or not B can succeed.
Find Related Questions by Tags, levels, etc.
Report an error
