“A little over thirty years ago two distinguished contract law scholars expressed the unqualified view that ‘… the correct step would be to declare that Foakes v Beer was simply wrong’. That case is generally given for the rule of English contract law that payment of a lesser sum in satisfaction of a greater sum owing cannot be enforceable as a variation or modification of contract because it lacks the sufficiency of consideration which the law requires …”
€ (Westlaw)
Maggie Hemsworth, ‘Contract: consideration, motive and part-payment’, [2022] Journal of Business Law (1) 66-75.
First posted 2021-11-26 18:00:12
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