About this document
Understanding Consideration in Contracts by ca.akagrawal is a document available to read on EtoBox.
Consideration is a crucial element of a valid contract, which must be provided at the desire of the promisor; without it, agreements are not enforceable. It can be an act or abstinence and may come from the promisee or a third party, and while it is not necessary for the consideration to benefit the promisor, it must be given at their request. There are exceptions where agreements can be valid without consideration, as outlined in Section 25 of the Contracts Act 1872.
- Author
- ca.akagrawal
- Language
- EN