essentials of a valid contract and essentials elements of lawful consideration is same or not?
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no both are different
the following are the Essential elements of a valid contract : agreement
legal relationship
lawful consideration
capacity of parties or competency
free consent
lawful object
certainly and possibility of performance
legal formalities
the following are the Essential elements of a valid consideration
consideration should be something desired by the promiser
it can be either be given by the promisee or any other person
consideration is essential to the contract consideration may be positive or negative consideration may be in any form
consideration need not be adequate consideration should be real
consideration should be lawful in the eyes of law
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