Kepong Prospecting Ltd V Schmidt

On that material hashim j.

Kepong prospecting ltd v schmidt. Came to the following conclusion a defendant has been receiving tribute from kepong mines ltd. Video for my business law class in disted malaysia. Schmidt marjorie schmidt 1968 1 mlj 170 schmidt a consulting engineer had assisted another in obtaining a prospecting permit for mining iron ore in the state of johore. Tan promised schmidt a tribute of 1 of the sales of all the iron ore produced and sold.

Whether services rendered after incorporation but before the agreement were insufficient to constitute a valid consideration even though they were clearly past. Nowroji pudumjee siradar v the deccan bank ltd ilr 45 bom 1256 1258 air 1921 bom 69. 3 kepong prospecting ltd v schmidt 1968 mlj 170 a schmidt a consulting engineer assisted in obtaining a permit for iron ore in the johor state. Contract law international agreements formation of contract.

T agreed with schmidt in writing that in consideration for schmidt s assistance to obtain a permit and start mining operations t would pay schmidt 1 of the price that all ore from the land was sold at. Subsequently tan set up a company called kepong prospecting ltd. Past consideration is good consideration was illustrated in kepong prospecting ltd. And the tribute is its sole asset.

Schmidt also assisted tan in the setting up of kepong prospecting ltd. A valuable consideration in the sense of the law may consist either in some right interest profit or benefit accruing to one party or some forbearance detriment loss or responsibility given suffered or undertaken by the other. Page 3 of 4 kepong prospecting ltd v schmidt. Kepong prospecting ltd v schmidt.

Defined under section 15 as committing or threatening to commit any act forbidden by the penal code or the unlawful detaining or threatening to detain any property to the prejudice of any person. Past consideration did constitute a valid consideration. Kepong prospecting ltd s k jagatheesan ors v a e schmidt marjorie schmidt 1968 1 mlj 170. Jagatheesan ors v.

S a consultant engineer has assisted another in obtaining a prospecting permit for mining iron ore he helped in the subsequent formation of kepong prospecting ltd and was appointed as its md. In the year 195 4 after the company was formed an agreement was entered into between the company and tan whereby the company took over the obligations to pay schmidt 1 of all ore that might be produced and sold. Kepong prospecting ltd v schmidt 1968 ac 810. The malaysian case which applied the principle of past consideration is the case of.