Professional Documents
Culture Documents
Consideration
Consideration
Consideration
Definition-
• When
• At the desire of the promisor,
• Promisee or any other person
• Has done or abstained or, does or
abstains or promises to do or to
abstain from doing
• Something
• Such act, abstinence or promise is
called consideration for the promise.
Every Contract consists of two parts:
• promise and
• consideration for the promise.
• Exceptions:
1. Agreement made on account of natural
love and affection.[Section 25(1)]
2. Promise to compensate for past voluntary
services. [Section 25(2)]
3. Promise to pay a time-barred debt.
[Section 25(3)]
Stranger to a contract &
Stranger to consideration