Contract law- solving a problem Assignment Example | Topics and Well Written Essays - 750 words

trim law- solving a problem - Assignment ExampleThis means the parallelism is regulated and injured parties is provided with improve should the contractual obligations fail to occur.In this case, Pete on realizing that the business is registering lower profits as a termination of foreign competition approaches his landlord to hold in a reduction in payment of bring. Nath on the other attain ascents to this with a promise. This hitherto does not qualify as a consideration in the contract. Whincup (2006)This case relates to the figure in the High Trees (Central capital of the United Kingdom Property Ltd v. High Trees House Ltd, 1947). High Trees entered into a rental agreement to rent flats from CLT. As the war proceeded High Trees, lack of enough clients made it difficult for High Trees to set out adequate rental income. Consequently, CLT accepted to receive reduced amount of rent. On completion of the war, CLT demanded full rent as the number of tenants started to rise. The court ruled that original full rent would be paid. However CLT could have no claim for the arrears. This ruling was based on the promissory estoppel that hindered CLT from going back to his promise (Ottley and Rush, 2006).As ruled out in the Pinnels case, (1602). Cole owed as sum of 8.50 to Pinnel. This was due on November the 11th. Pinnel however made a request and Cole sent a lesser payment of 5.11 on the counterbalance day of October. Pinnel agreed this amount in full settlement. Pinnel thereafter sued his debtor for the amount owed. The court contumacious that acceptance of part-payment was not a consideration but this would be binding in the case that fair consideration be provided by the debtor if the creditor requested so.In relation to the case of Central London Property Ltd v. High Trees House Ltd, 1947), Nath accepted half rental payment. Pete promise was non-contractual and not sufficient for consideration. match to (Bose, 2008), promise made by debtor in payment of time barred debt