Contracts

Contracts

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 edition. Excerpt: ...adopt the alternative of nine months, and consequently the credit had not expired at the time the action was begun. Where one of the alternative performances becomes impossible, the promisor is nevertheless bound to perform the other act. In Drake v. White (14) A was indebted to B by note; as security he delivered an iron safe to B, receiving the following memorandum of agreement: "Received of A one safe which we promise to redeliver to A or its value in money on the payment of a note signed by A." The safe was destroyed by fire without the fault of B. Held, he was liable for its value under the alternative (12) 40 Chan. D. 357. (13) 5 Taunt. 338. (14) 117 Mass. 10. is expressed to be joint or several, A and B can sue together, or A or B can sue C separately, but they cannot sue jointly and separately also, as is the case where the obligors are jointly and severally liable (9). 91. Contracts performable in the alternative. Where an agreement is in such a form that the promisor can satisfy his promise by doing either one of two acts, the contract is said to be in the alternative. Ordinarily the one who has promised to do the acts has a right to decide or elect which act he will do. Thus, in Plowman et al; v. Riddle (10), A gave his note to B for $500; the note pro;vided that it might be paid in good leather of a certain description, and at stipulated prices. It was held that A had a right to elect which he would do, at or before the note was due, and his failure to make such an election gave B the right to sue for the money. The rule that the one who is to perform the acts has the right to elect is not applied where the circumstances indicate that a different rule was intended. In Norton v..Webb (11) A conveyed a farm to...show more

Product details

  • Paperback | 40 pages
  • 189 x 246 x 2mm | 91g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236776321
  • 9781236776327