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"No consideration,No contract" .Discuss consideration in
light of this phrase.
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Answer Posted / shahid sagar
‘No consideration, no contract’. Discuss consideration in light of this phrase.
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
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