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June 2011 Eng. Law Q8

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › June 2011 Eng. Law Q8

  • This topic has 1 reply, 2 voices, and was last updated 12 years ago by MikeLittle.
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  • May 8, 2013 at 7:23 pm #124916
    Nayyer
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Q.8 Part B relates to the waiver of existing contractual rights and in particular the part payment by a third party.
    My question is that why a part payment by a third party is acceptable? Does it not give rise to people using third parties to pay only partial amounts of their debts?
    For example party A owes party G $1000, but party A uses party X as a third party and pays party G only $800 and the poor party G cannot even sue them?? Doesnt make much sense!!

    May 9, 2013 at 10:46 am #124957
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23352
    • ☆☆☆☆☆

    I believe that there is the underlying proviso that G has to agree to the part payment. The fundamental rule is that part payment by A does not get full discharge but if X agrees to pay part and G agrees to this, then the debt is fully paid

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