A 'unilateral discharge' is where one party has performed his obligations and the other party has not, but the first party nevertheless agrees to discharge the other. Are such agreements enforceable?
Only if they are made by deed or some form of payment is made
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A bilateral discharge is where both parties agree that they are each discharged from their obligations. Are such agreements enforceable?
Yes, because one party's promise to release the other from his obligations counts as sufficient consideration
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Card 2
Front
A bilateral discharge is where both parties agree that they are each discharged from their obligations. Are such agreements enforceable?
Back
Yes, because one party's promise to release the other from his obligations counts as sufficient consideration
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