British Salmson Aero Engines Ltd v Inland Revenue Commissioners Under an agreement whereby the appellant company was granted the exclusive right for 10 years to construct, use and sell in the United Kingdom and the Dominions certain engines, the appellant company was to pay as consideration for the licence so granted £25,000, payable as to £15,000 on the signing of the agreement, as to £5,000 six months after the signing of the agreement, and as to £5,000 twelve months after the signing of the agreement.