Thursday, May 20, 2010

Contract Act_Practical Problems_114

X,Y and Z are partners of software business jointly promise to pay Rs.30, 000 to A. Over a period of time Y became insolvent, but his assets are sufficient to pay one-forth of his debts. Z is compelled to pay the whole. Decide whether Z is required to pay whole amount himself to A in discharging joint promise?

8 comments:

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harsh said...

A can recover from any one or all of them except y (restricted to the realised value of his estate).
if any one of them has paid the amount, then he can recover the amount from other partner, and the insolvency of y has to be beared by the remaining partners

HaroldM22 said...

Wise men learn by other mens mistakes; fools by their own. ............................................................

旺劭旺劭 said...

感動 + 感恩 + 感謝(。-ˍ-。 )........................................

紋謙PhilCrispin0 said...

All good things come to an end...................................................

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bhaliya jasmin said...

no Z can not require to pay whole amount to A.he is liable to the amount after that amount of Y's assets realise & then half of it.