| One of the earliest references to what a promisor was to have for his undertaking was in the action of assumpsit. |
| The promisor and promisee may devise a contract in which the position of the beneficiary is significantly different from that of the promisee. |
| The question is whether the promisor's defences, set-offs and counterclaims should be available to the promisor in an action by a third party. |
| It also follows that the promisor and promisee enjoy broad powers to shape the rights created in favour of the beneficiary. |
| Article 5 of the U. K. Act seeks to protect the promisor from double liability. |
| In our submission, anything short of that is not a satisfactory discharge of the obligations of the promisor to give a right of first refusal. |
