Foakes v Beer
1884 · 9 App Cas 605
Posted By lanbuk.com
- Facts
- Mrs Beer agreed to take payment of a judgment debt by instalments and not to sue while they were paid. She later claimed the interest.
- Issue
- Did part payment discharge the whole debt, including interest?
- Held
- No. Payment of a lesser sum on the day does not satisfy a greater sum. The interest was still due.
- Principle
- Part payment of a debt is not good for a promise to forgo the rest.
- Why it matters
- It affirms Pinnel's Case. and payment by a third party are the ways round it.
Words and Latin in this note
- Consideration
- The price of a promise: something of value given, or promised, in return. A bare promise to make a gift has none. Open the note.
- Estoppel
- A rule that stops a person from going back on something they said or did when another person relied on it. Open the note.
For study only. By lanbuk.com. Always check current sources and consult a qualified professional.