||All England Reporter
|| All ER (D) 133 (May)
Justin Fenwick QC sitting as a deputy judge of the High Court
||Fenner Moeran (instructed by Devonshires) for the claimant.
||The defendant appeared by its representative.
||12 May 2003
Bills of exchange - Promissory note - Dispute between issuer and endorsee - Extent of obligations arising from subsequent agreement to settle outstanding sum.
On its true construction, whilst an agreement concluded with a view to settling a dispute arising from the non-payment of a sum agreed under a promissory note was a legally binding contract, it did not extend to an obligation to enter any form of actual settlement. Moreover, breaches of that agreement, by either party, did not extinguish liability for the sum due under the promissory note.
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