What is the necessity of consideration?
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Answer / naman
consideration is required to create legally enforceable
contract. Without consideration there cannot b contract and
it is one of the essential ingredients of the contract.
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Answer / manoj kumar tiwari
consideration is something which is done or given (in terms of money) which is lawful, when an offer is accepted. for example, an offer of sale - A shirt priced at Rs 5/-. Any buyer can accept the offer by paying Rs. 5/- and the moment the buyer accepts to pay a legal contract is created. If any one denies to pay, it is refusal of consideration of Rs. 5/- and no contract will be created. Similarly, every offer will have a consideration part either in form of an act or price which is accepted to be fulfilled by the other party. Any offer without consideration will be an act of donation or voluntry act but not a contract.
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