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And Mathew J. adds,"It is noticeable that the agreement is framed so that it casts an obligation which would not otherwise have existed. Foakes owed Beer a £2000 debt following a court order; Foakes negotiated with Beer that he could pay £500 immediately then the rest in instalments; Once payment was complete, Beer bought an action for the interest owed; Issue.
"And in another part of his judgment he puts the proposition thus:—"The payment merely of a less sum, not being in pursuance of any contract by deed, cannot by the common law be deemed to be a satisfaction of a greater liquidated sum, but the law will allow the payment of a smaller sum to be a satisfaction of a greater liquidated sum if there be any collateral advantage, however small, to the creditor attending the transaction. Mackreth says that in the course of the negotiation "interest was never mentioned at all in reference to that agreement." In a decision that is likely to generate much academic debate in England and across the common law world, the court both cleverly affirmed the general principle in Foakes v Beer, and its troublesome progeny, yet simultaneously outflanked it by extending the principle in Williams v Roffey into new territory. Their Lordships approved the rule in ‘some independent benefit, actual of contingent, of a kind which might in law be a good and valuable consideration’.However, Lord Blackburn expressed some dissatisfaction with this, noting that by accepting less a creditor could in some cases gain a practical benefit.To export a reference to this article please select a referencing stye below:Copyright © 2003 - 2020 - LawTeacher is a trading name of All Answers Ltd, a company registered in England and Wales.
The pair then entered an agreement whereby ‘in consideration’ of an initial payment of £500 and ‘on condition’ of six-monthly payments of £250 until … In my opinion it is not; and I think, therefore, that the judgment of the Court of Appeal should be affirmed.This is the old version of the H2O platform and is now read-only. Assuming that I have fallen into error in interpreting the agreement, and that it is to be read that if Dr. Foakes should pay the actual sum of £2090 19 I have listened with much interest, and I may add, with no small instruction, to the judgment of my noble and learned friend Lord Blackburn. She undertakes not to take proceedings on the judgment provided the stipulated termly instalments are regularly paid, "until the whole of the said sum of £2090 19 s. shall have been fully paid and satisfied." In Defence of Foakes v. Beer - Volume 55 Issue 2 - Janet O'Sullivan. proceed on the judgment, claiming she was entitled to interest because the I refer to it as shewing how a judge of great experience considered the law to stand.I am not aware of any decision that controverts this position, and the text-books uniformly present it thus; that "the payment of part of a liquidated and ascertained sum is in law no satisfaction of the whole." A court judgement against Dr Foakes (Defendant) for £2090 was obtained by Mrs Beer (Claimant). He refers to While he acknowledges that this doctrine has been criticized it has not been overruled and therefore somewhat hesitantly adopts it and dismisses the appeal. The effect of the replication is to put in issue the substance of the defence, namely, the giving in satisfaction; Young v. RuddTwo cases require to be carefully considered. The two parties entered into an agreement on December 21, 1876 (notunder seal) that Foakes would pay £500 immediately and £150 every 6 monthsuntil he had paid off the debt and in return Beer wouldn't take any action.
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