Collateral Contract
COLATERAL CONTRACT
Collateral contract is a concept which has gradually evolved since its inception. However, collateral contract has been applied in a limited fashion in Australia, compared to other jurisdictions.
In this essay, I will argue that collateral contract has outlived it usefulness and currency in legal practice in Australia. To remain current, the broadening of its application is essential.
To support my argument, I will discuss:
• The concept of collateral contract;
• When collateral contract may be argued; and
• The limitations upon the likelihood of its success in the Australian courts.
COLLATERAL CONTRACT DEFINED
The concept of collateral contract may be defined as ‘a contract where the consideration is entry into another contract, and co-exists side by side with the main contract'. A promise that was not included in the principal contract may be enforced as a collateral contract, as clearly illustrated by Lord Moulton in Helibut, Symonds &......
View the rest of this paper...
Approximate Word Count: 2376
Approximate Pages: 10 (250 words per double-spaced page)
Why should you join Frat Files?
- - It's safe, secure, and private.
- - Instant access to over 100,000 papers. New papers are added hourly.
- - Fast and reliable customer support.
Similar Essays
-
Collateral Contract
Collateral Contract. COLATERAL CONTRACT Collateral contract is a concept
which has gradually evolved since its inception. However ... -
Australian (Nsw) Misrepresentation
... Loss or damage, · Prevent or reduce the loss or damage suffered, · Declare the whole
or any part of a contract void, · Declare a collateral contract void. ... -
Stereotypes
... LIEN monetary claim on title when property is provided as collateral . Suit for
specific Performance- cont Chart of contract and/or instruments used in real ... -
International Commerce Contract
... but not limited to, Seller's obligations under any lease, contract or account. ... affixed
to or used in connection with such items (hereinafter the "Collateral"). ... -
Merchant Of Venice
... i, scene ii 786-989) The nature of the contract between Bassanio and Shylock( a ... will
waive it as long as Antonio promises him a pound of flesh as collateral. ...
Frat Files
Members
Information
