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Hayleigh Cattermole "Payment of a smaller sum cannot discharge a debt for a larger amount" Is this and should this be the law? The view on part- payment varies in both Common law and Equity Law. In common law the view on Part payment was established in the Pinnels case. The quote is that "Payment of a lesser sum on the day in satisfaction of a greater sum cannot be any satisfaction for the whole." This states the consideration is not good if a person agrees to pay part of an existing debt, and therefore there is no binding contract. However Equity Law which over rules that of common Law decides on the basis of what is fair to whether this should be applied or not. The rule in Pinnels case is that it is a contracted duty to pay the full debt therefore part payment is not providing any consideration. In order...

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