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Contract

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Contract

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Vijay.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • May 27, 2021 at 10:11 am #621893
    sadafwaheed1
    • Topics: 79
    • Replies: 29
    • ☆☆

    An Agreement to carry out an act which the law requires anyway amounts to :

    A. Sufficient consideration
    B. Insufficient consideration
    C. Past consideration

    Answer in kit is B . sir can you please explain why is it insufficient consideration??

    May 31, 2021 at 8:47 pm #622507
    Vijay
    • Topics: 0
    • Replies: 258
    • ☆☆☆

    Hi

    If the law already requires you to do something i.e. its an existing legal obligation e.g. giving evidence in court due to a subpoena (i.e. a court order requiring you to give evidence) then you cant use this as fresh consideration in support of a new contract.

    For example if the court requires you to give evidence in a court case and then a lawyer says that they will pay for your travel to the court case so long as you give evidence then this is not valid and you would not be entitled to the travel as going to court is an existing obligation and therefore you have not done anything different to what is legally required and thus it is “insufficient”.

    Kind regards,

    Vijay

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