Question

"consideration is necessary element in binding a contract." discuss with exceptions.​

Answer 1

Answer:

If consideration is not detailed in the contract, the contract is void unless it is in writing and registered under the law. ... Contracts must be in writing and registered. An exception to the rule is for deeds or documents under seal, which do not require consideration to be a binding contract.

Answer 2

Answer:

;)

Explanation:

An exception to this rule is where there is a duty owed to a third party. An act done before the giving of a promise to make a payment or to confer some other benefit can sometimes be consideration for the promise.

One exception to the rule requiring consideration is promissory estoppel. In a bilateral contract the considerations for each promise is a return promise. In a unilateral contract, the consideration is one partys consideration is the promise and the other partys consideration is the act.