Contract Law
Large Group 4
Consideration
Contractual variations
, Contractual variations
• For a variation to be binding the same 3
components must be present as on formation
• Often the problem is consideration (define)
• Two types of variation:
• A wants more from B for performing an existing
contractual obligation;
• A wants to pay a lower amount to B in full satisfaction of
a debt owed to B.
Large Group 4
Consideration
Contractual variations
, Contractual variations
• For a variation to be binding the same 3
components must be present as on formation
• Often the problem is consideration (define)
• Two types of variation:
• A wants more from B for performing an existing
contractual obligation;
• A wants to pay a lower amount to B in full satisfaction of
a debt owed to B.
