What is the necessity of consideration?
- 2 Answers
- 5050 Views
- Christ University, I also Faced
- E-Mail Answers
Answer Posted / 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.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
if the accident met in a factory, the prilminery case fieling should be followed in that time have any rights filing a criminal by police man?
What are the duties of the position for criminal affairs?
what are the differences and similarities between loans and cumulative redeemable preference shares
can we issue a waybill to the contractor for entering his equipment from outside the state( i.e Odisha) for completion of contract in the state of Odisha???
Whether a Minor can purchase or sell Company Share ? A person presented company share for transfer in his favour but the Transfer Deed accompanied by Company Share is of such date when the person was Minor.Whether the Company accept the Transfer Deed and transfer those shares in his favour.
What is the meaning of withhold tax and give the example
What are the laws for arrested person?
What stops countries from invading each other on a daily basis?
I am a medical student doing post graduation & receiving stipend of Rs.35000 pm. Am i supposed to register / enroll as a professional ? My professional tax is deducted directly from my salary as mentioned on the salary slip. but i got a letter from sales tax officer stating that i am penalized for not enrolling / registering ..... i am not able to understand this.
How did you first become interested in a career in law?
what is mean by form no 8B which purpose it will use ...???
what are the general requirements ( legal ) to start a small bussiness like cafe in tamilnadu?
i am a phrma gratuate.currently working in pharma sales for last 2 years. but have no production exp. in future in have a plan to start for a production unit of otc(over the counter) product but not yet specified. now my query is that WHAT ARE THE CRITERIA FOR OPENING A PRODUCTION UNIT?
To what extent did the NSA revelations impact on the British public?
Maximum validity of an ordinance is 6 months or 6 weeks.
