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Impossibility of restitution

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Impossibility of restitution

  • This topic has 5 replies, 2 voices, and was last updated 10 years ago by MikeLittle.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • July 11, 2015 at 10:17 pm #260576
    Chloe
    Member
    • Topics: 95
    • Replies: 243
    • ☆☆☆

    Do you have any information on this?

    July 12, 2015 at 8:48 am #260592
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Where a person has entered into a partnership as a result of misrepresentations being made about the firm’s activities, position and performance.

    The firm then converts into a limited company.

    Then our innocent new partner discovers the true position and the fact of the misrepresentation so asks for repudiation and a get-out from the firm with the repayment of any cash paid in upon entry.

    But the situation has radically changed and the repayment of the money will adversely affect the claims of a company’s creditors whereas it would have no affect on those creditors if they were creditors of a partnership

    Ok?

    July 12, 2015 at 9:35 am #260601
    Chloe
    Member
    • Topics: 95
    • Replies: 243
    • ☆☆☆

    I thought this was to do with goods.
    I am definitely going to have to have a look at this in more detail.

    Thanks

    July 12, 2015 at 10:57 am #260614
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Restitutio in integrum says that any goods to be returned must be returned in exactly the same condition as when they were delivered. If they have changed in nature sine original delivery then restitutio in integrum is not available

    July 13, 2015 at 9:15 pm #260711
    Chloe
    Member
    • Topics: 95
    • Replies: 243
    • ☆☆☆

    Ok then. I did read a bit about goods having deteriorated or perished because of examination of the buyer.

    July 13, 2015 at 9:37 pm #260719
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Ok!

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    Posts
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