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Where the performance of a promise by one party depends on the prior performance of promise by the other party, such reciprocal promises fall under the category of
- a)Mutual and concurrent
- b)Conditional and dependent
- c)Mutual and independent
- d)Both (a) and (b)
Correct answer is option 'B'. Can you explain this answer?
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Where the performance of a promise by one party depends on the prior p...
Conditional and Dependent Promises
When the performance of a promise by one party is dependent on the prior performance of promise by the other party, the promises are said to be conditional and dependent. In such cases, the parties involved in the agreement must fulfill their obligations in a specific order. This type of promise is also known as a reciprocal promise.
Example: A hires B to deliver goods to C. The payment for the goods will be made by C to A only after the goods are delivered by B. Here, A's promise to deliver goods to C is dependent on B's promise to deliver the goods. Until B delivers the goods to C, A cannot fulfill their promise.
Mutual and Concurrent Promises
Mutual and concurrent promises are promises that are to be performed at the same time. In such cases, the order of performance is not important, and both parties must fulfill their obligations at the same time.
Example: A and B agree to exchange their cars. Here, both A and B must perform their promises simultaneously. A must hand over their car to B at the same time that B hands over their car to A.
Mutual and Independent Promises
Mutual and independent promises are promises that are not dependent on each other and can be performed independently. In such cases, the order of performance is not important.
Example: A agrees to pay B a sum of money, and B agrees to deliver goods to A. Here, A's promise to pay money and B's promise to deliver goods are independent of each other. A can pay B before or after the goods are delivered, and B can deliver the goods before or after the payment is made.
Conclusion
Conditional and dependent promises are promises that are dependent on each other and must be performed in a specific order. Mutual and concurrent promises are promises that are to be performed at the same time, and mutual and independent promises are promises that are not dependent on each other and can be performed independently.
When the performance of a promise by one party is dependent on the prior performance of promise by the other party, the promises are said to be conditional and dependent. In such cases, the parties involved in the agreement must fulfill their obligations in a specific order. This type of promise is also known as a reciprocal promise.
Example: A hires B to deliver goods to C. The payment for the goods will be made by C to A only after the goods are delivered by B. Here, A's promise to deliver goods to C is dependent on B's promise to deliver the goods. Until B delivers the goods to C, A cannot fulfill their promise.
Mutual and Concurrent Promises
Mutual and concurrent promises are promises that are to be performed at the same time. In such cases, the order of performance is not important, and both parties must fulfill their obligations at the same time.
Example: A and B agree to exchange their cars. Here, both A and B must perform their promises simultaneously. A must hand over their car to B at the same time that B hands over their car to A.
Mutual and Independent Promises
Mutual and independent promises are promises that are not dependent on each other and can be performed independently. In such cases, the order of performance is not important.
Example: A agrees to pay B a sum of money, and B agrees to deliver goods to A. Here, A's promise to pay money and B's promise to deliver goods are independent of each other. A can pay B before or after the goods are delivered, and B can deliver the goods before or after the payment is made.
Conclusion
Conditional and dependent promises are promises that are dependent on each other and must be performed in a specific order. Mutual and concurrent promises are promises that are to be performed at the same time, and mutual and independent promises are promises that are not dependent on each other and can be performed independently.
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Where the performance of a promise by one party depends on the prior performance of promise by the other party, such reciprocal promises fall under the category ofa)Mutual and concurrentb)Conditional and dependentc)Mutual and independentd)Both (a) and (b)Correct answer is option 'B'. Can you explain this answer?
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