Where a party accepts part payment for a debt, they may at a later date request payment of the amount outstanding unless the other party provided extra consideration when making the part payment. Which TWO of the following are valid extra consideration for part payment of a debt? (1) Payment in the form of goods rather than cash (2) Payment by a third party rather than the debtor (3) An intention by the debtor to be legally bound by the part payment (4)
A、guarantee by the debtor to make the payment on the date agreed in the contract
A、1 and 2
B、1 and 4
C、2 and 3
D、2 and 4
A、guarantee by the debtor to make the payment on the date agreed in the contract
A、1 and 2
B、1 and 4
C、2 and 3
D、2 and 4
【参考答案及解析】
For the extra consideration to be valid, the creditor must become entitled to something that they arenot already entitled to. In this case, goods rather than cash and payment by a third party are validexamples. A guarantee of payment and payment on time are not valid as extra consideration becausethe creditor is already entitled to them.
For the extra consideration to be valid, the creditor must become entitled to something that they arenot already entitled to. In this case, goods rather than cash and payment by a third party are validexamples. A guarantee of payment and payment on time are not valid as extra consideration becausethe creditor is already entitled to them.