"No consideration,No contract" Explain with exception.
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Answer Posted / natasha
A promise without consideration cannot create a legal obligation. The general rule is that an agreement made without consideration is void. This rule is contained in Section 25 of the Indian Contract Act, which declares that ‘an agreement made without consideration is void’. This means that consideration is a must in all the cases. But this Section provides certain exceptions where an agreement is valid even without consideration. These cases are :
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