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Contract Law Scenario Question

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Contract Law Scenario Question

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 23, 2016 at 4:08 pm #301710
    Jason
    Participant
    • Topics: 3
    • Replies: 10
    • ☆

    Dear Sir,

    Please help me with the following question:

    In January Aristidis took over some city centre property with the intention of converting it into an art gallery. Because the property was in need of repair Aristidis entered into two contracts. The first was with Varvara to do all the necessary repair work and the second was with Costas to do all the necessary paintwork. Both contracts were for $5000 and both workers were paid $1000 immediately. It was a term of both contracts that the work was to be finished by the end of March because Aristidis had an exhibition planned for May 1.

    At the end of February, Varvara told Aristidis that she would not be able to repeat the repairs in time unless Aristidis agreed to pay an additional $1000. Aristidis agreed and then thought that it wouldn’t be fair on Costas so Aristidis promised to pay Costas an additional $1000 too.

    On completion of the work at the end of March Aristidis is now refusing to pay either one the additional $1000.

    (a) identify whether the following statements are true or false

    (i) The variation of the terms of the contract with Varvara is acceptable because Aristidis agreed to the variation. (Answer: false)

    Sir, please tell why the correct answer for the above is false.

    Thank you.

    February 23, 2016 at 4:18 pm #301711
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23318
    • ☆☆☆☆☆

    “Sir, please tell why the correct answer for the above” – why do you think that this is the correct answer?

    What did Varvara give Aristidis in exchange for him agreeing to pay the additional $1,000?

    February 24, 2016 at 1:18 pm #301836
    Jason
    Participant
    • Topics: 3
    • Replies: 10
    • ☆

    After re-reading the question many times I realised what you said (no consideration was given in exchange for the promise) and lots of other things that I didn’t realise before.

    Thanks.

    February 24, 2016 at 1:49 pm #301840
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23318
    • ☆☆☆☆☆

    Well, there you go!

    Keep coming with those questions, though.

    I’m perfectly happy to help where I can

  • Author
    Posts
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