Question
What is the rule in Pinnel's case? Which of the following is correct? Question 7 options: A)The rule under Pinnel's case is that the payment
What is "the rule in Pinnel's case"? Which of the following is correct?
Question 7 options:
A)The rule under Pinnel's case is that the payment of a lesser sum cannot be good consideration for a promise not to sue for the remainder of the debt
B)In Pinnel's case a court decided that parties to a lending agreement can come to an arrangement they wish regarding an early payment of a debt; a lesser sum can be paid in full satisfaction of a pre-existing debt
C)Under Pinnel's case there is promissory estoppel not to sue for any remaining amounts owed if a party takes it upon themselves to pay out a debt earlier than expected
D)The rule of Pinnel's case is that any indication by a creditor that early payment is acceptable as discharge of a debt, is good reliable consideration for a promise of no further legal action
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started