Deposits, Instalments and Recovery of 'Over Payment'

Law Quarterly Review, 129 4: 489-491, 2013

University of Queensland TC Beirne School of Law Research Paper

Posted: 10 Jun 2015

See all articles by Lee Aitken

Lee Aitken

The University of Hong Kong - Faculty of Law

Date Written: 2013

Abstract

Payment of a deposit shows that the obligor means business — in the event of default in performance, the deposit is forfeited. "Instalments" paid and, payable, under a contract are amphibolous; they may either be amounts recoverable by the obligor when the contract goes off for some reason, or they may be irrecoverable, since paid "unconditionally". Whether an instalment is recoverable raises issues of relief against forfeiture, penalties, failure of consideration and restitution since retention of the instalments already paid may overcompensate the counterparty for any loss.

JEL Classification: k00

Suggested Citation

Aitken, Lee, Deposits, Instalments and Recovery of 'Over Payment' (2013). Law Quarterly Review, 129 4: 489-491, 2013; University of Queensland TC Beirne School of Law Research Paper. Available at SSRN: https://ssrn.com/abstract=2585871

Lee Aitken (Contact Author)

The University of Hong Kong - Faculty of Law ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

HOME PAGE: http://hub.hku.hk/rp/rp01235

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