Source: All England Reporter
Publisher Citation: [2003] All ER (D) 133 (May)
Court: Chancery Division
Judge:

Justin Fenwick QC sitting as a deputy judge of the High Court

Representation Fenner Moeran (instructed by Devonshires) for the claimant.
  The defendant appeared by its representative.
Judgment Dates: 12 May 2003

Catchwords

Bills of exchange - Promissory note - Dispute between issuer and endorsee - Extent of obligations arising from subsequent agreement to settle outstanding sum.

The Case

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.

Practice Areas

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