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Contract

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

  • This topic has 3 replies, 2 voices, and was last updated 8 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • September 1, 2016 at 12:01 pm #336781
    firelion28
    Member
    • Topics: 159
    • Replies: 83
    • ☆☆☆

    Sir in the case of Payzu v Saunders , what do we mean by

    ‘Damages were limited to the amount of their assumed loss if they had paid in advance, which was interest over the period of pre payment?

    September 1, 2016 at 12:37 pm #336802
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23325
    • ☆☆☆☆☆

    ‘Damages were limited to the amount of their assumed loss if they had paid in advance, which was interest over the period of pre payment?’

    This means that damages were restricted

    How to measure these restricted damages?

    Consider that payment had been made in advance. If that were so, the payer would not have been able to use the cash paid in any other way and, particularly, would not have been able to invest it and earn interest

    So damages were limited to the amount of the assumed loss that would have been suffered if payment had been made in advance. If that HAD been the situation, then the loss would have been the interest lost because the money was no longer available for investment – it had been paid in advance

    OK?

    September 1, 2016 at 1:56 pm #336829
    firelion28
    Member
    • Topics: 159
    • Replies: 83
    • ☆☆☆

    Wow. made it so easy.. thanks a lot!

    September 1, 2016 at 7:12 pm #336890
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23325
    • ☆☆☆☆☆

    You’re welcome

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