Where Reciprocal Promises Are to Be Simultaneously Performed?
2.3 Concurrent: This Is, Yet Again, a Common Form of Reciprocal Promise Where Parties Have To, Expressly or Impliedly, Perform Their Obligations...
2.3 Concurrent: This is, yet again, a common form of reciprocal promise where parties have to, expressly or impliedly, perform their obligations simultaneously. The party willing to perform its promise will be exempted from doing so if the other party is not "ready" and "willing" to perform its respective obligation.
How the reciprocal promises has be performed?
Section 54– Reciprocal and dependent promises
When the nature of the promise is conditional, the first party (the party who has to perform in order for the other party to perform) can not ask the other party to perform their promise, if they do not perform first.
Where a contract consists of reciprocal promises and such reciprocal promises are to be simultaneously performed identify which of the following is true?
Promises are not required to be performed as contracts consisting of reciprocal promises to be simultaneously performed are specifically declared to be void.
Sarah Jenkins is a veteran tech journalist with over 12 years of experience covering artificial intelligence, mobile innovations, and digital ethics. Her insights have appeared in leading technology publications worldwide.
