Mutual Contract, South Sea stock – At compromising a transaction relative to South sea stock, one of the parties grants an obligation to the other, to pay him a certain sum with this proviso, that whereas the obligee intended to sue two of the directors to make void his own bargain, if he succeeded, the obligor was to be free of his obligation. The obligee having got an abatement by compromise from the directors, the obligor was entitled to a proportional abatement.
[1725] UKHL Robertson – 503, (1725) Robertson 503
Bailii
Scotland
Company
Updated: 05 January 2022; Ref: scu.554115