Question

31. Which of the following is an exception to the rule-"No consideration, No contract"?
(A) Agreement to compensate for past voluntary service
(B) Complete gift
(C) Agreements made out of natural love and affection
(D) All of the above​

Answer 1

Answer:

D) All of the above

Explanation:

The exception to the rule of consideration squarely falls within the purview of the statute. Indian Contract Act in section 25, categorically provides for the three situations whereby the requirement of consideration ends. It is natural to love, affection, voluntary service, and payment of the time-barred debt.

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Answer 2

The correct answer is Option (D) All of the above.

• In option a, if there is a promise to compensate partly or wholly, for example, Mohan finds a purse of Sohan and gives it to Sohan. In return, Sohan gave the sum of Rs.5000. This is a contract

• In option b, gifts do not require any kind of consideration, it is between the person who is giving and the person who is receiving.

• In option c, an agreement will not be effective if it is not registered, in law emotions like love and affection does not take into consideration.