coulder_bartrum1881
A secured creditor was not entitled to amend after a composition had been taken and completed. Sir George Jessel MR said: ‘According to English common law a creditor might accept anything in satisfaction of his debt except a less amount of money. He might take a horse, or a canary, or tomtit if he chose, and that was accord and satisfaction; but, by a most extraordinary peculiarity of the English common law he could not take 19 shillings and sixpence in the pound; that was nudum pactum.’
Sir George Jessel MR, Lindley LJ, Baggallay LJ
(1881) 19 Ch D 394
Cited by:
Cited – Collier v P and M J Wright (Holdings) Ltd CA 14-Dec-2007
Agreement for payment by joint debtor not contract
The claimant appealed against refusal of an order to set aside a statutory demand. He said that he had compromised a claim by the creditors. He argued for an extension to the Rule in Pinnel’s case, so that where a debtor agrees to pay part of a . .
Lists of cited by and citing cases may be incomplete.
Contract, Insolvency
Leading Case
Updated: 10 November 2021; Ref: scu.262874
