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LWAcceptance & Consideration

AArslan4y ago
Dear Sir, In Acceptance , it is said in case of Household Fire Insurance Co v Grant that Postal rule applies (shares case) and outcome was "posting acceptance creates a ‘meeting of minds’, which created a binding contract" but defendant never paid for shares which he was allotted by letter. and in consideration it says "Consideration is a two-way thing in simple/parol contracts" so if defendant did not pay for shares , the transaction was not completed hence contract was not complete due consideration being one way only. please clarify if i am mixing up two different things. Thanks
MmrjonbainModerator4y ago#1
Welcome to the Opentuition forums. This is primarily designed for students to help one another. If you want the tutor to answer your question please ask on the following forum- https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-lw-exams/ Hope this helps.
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