Basic Principles of Contract | Contract Law

Imperial Loan Co. Ltd. v. Stone

Imperial Loan Co. Ltd. v.¬†Stone [1892] 1 Q.B. 599 (competence of parties, mental capacity) FACTS: Defendant when lunatic signed a promissory note as surety upon which plaintiff brought an action and defendant took the defence of insanity ISSUE:¬†Whether defendant can successfully claim insanity as a defence? HELD: To successfully take the defence of insanity as…

Basic Principles of Contract | Contract Law

Nash v. Inman

Nash v. Inman [1908] 2 KB 1 (Contract for necessity for minor enforceable) FACTS: A tailor supplied 13 waistcoats and other things of that kind to a undergraduate student when latter was a minor. Student refused to pay for the goods supplied and tailor brought this suit against him for recovery of price of those…