LAW 122 Lecture Notes - Lecture 8: Contractual Term, Ryerson University, Ice Storm
17 Nov 2016
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Past consideration there must be mutuality of consideration. No mutuality and therefore no consideration: ex. Has to happen at the same time. Promise to perform duty owed to third party: old contract promise repeated for new contract. If you don"t perform you breach all the contracts. Promise to perform obligation owed to same party: old contractual promise repeated for new contract. No because his job is to pitch. A promise like this is not intended to be taken seriously. Promise to discharge debt upon part payment: ex. (cid:498)you owe me 500 pay 200 and forget the rest(cid:499, some exceptions. Pay earlier then you said you would. By paying a day early you confer a benefit. Instead of paying by cheque, pay by cash. Promise under seal (= special mark on document) Ontario, but not all jurisdictions: promise enforceable if part payment actually received. They can change their mind till they get their money in hand.
