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"No consideration,No contract" Explain with exception.
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Answer Posted / sebastian
Exceptions to the rule that “No consideration – No contract”
Section 25 declares that `an agreement made without
consideration is void'. It means that consideration is a
must in all cases. Exceptions to the rule are:
• written and registered agreement out of natural
love and affection between the parties;
• promise to compensate a person who has voluntarily
done something for the promisor;
• promise to pay time-barred debt;
• completed gift;
• creation of agency
| Is This Answer Correct ? | 239 Yes | 30 No |
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