Consideration.

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Presentation transcript:

Consideration

Definition 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 Abdul Aziz vs Masum Ali Kedar Nath vs Guari Mohamed

Legal Rules as to Consideration Must move at the desire of the promisor Durga Prasad vs Baldeo May move from the promisee or any other person Chinnaya vs Ramayya It may be an act, abstinence or forbearance or a return promise ( compromise, composition with creditors) Debi Radha Rani vs Ram Dass It may be past, present or future It need not be adequate

Contd It must be real Still vs Myrick Not something which promisor is not already bound to do Ramchandra Chintaman vs Kalu Raju It must not be opposed to public policy

Stranger to the Contract Dunlop Pneumatic Tyres Vs Selfridge Exceptions Trust Marriage settlement, partition or family arrangements Assignment Contracts through agents Covenants running with the land

Contract without Consideration is Void - Exceptions Love & Affection Compensation for voluntary services Promise to pay a time barred debt Agency Charitable Subscription

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