Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Expectation interest and reliance interest
- This topic has 3 replies, 2 voices, and was last updated 6 years ago by MikeLittle.
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- December 24, 2017 at 1:17 pm #424673
Sir where expectation interest is awarded and where reliance interest is awarded?
December 24, 2017 at 1:31 pm #424677What does your text book say it is? You must have read this in a study text because it’s not an expression that I remember using neither in the course notes nor in lectures
Read what the text tells you and then, if you still have a query about understanding the text, by all means post again
OK?
December 24, 2017 at 1:39 pm #424683Sir expectation interest is to put the claimant in position in which he would have been if the contract had been properly performed. And reliance interest is to put the claimant in position in which he would have been if he had not relied on the contract.
Claimant is awarded either expectation interest or reliance interest. He cannot claim both.
But the question is that I do not understand that where expectation interest is awarded and where reliance interest is awarded?
December 24, 2017 at 1:41 pm #424686The first is where the claimant suffers because the contract was NOT entered into
The second is where the claimant suffers because the contract WAS entered into
That’s now 25 out of 30 = 83.33%
Now STOP!
OK?
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