Question

Inadequacy of consideration does not make the contract

Answer 1

The price can be in the form of money, property, an act, and promise to do an act or not to do an act. Inadequate considerationis not void; however, it can make a contractunenforceable either by itself or due to procedural defects in bargaining.

Answer 2

Answer:

Inadequate consideration refers to a situation where one party argues that the value that it provided the other party is greater than the value it was provided in return.  Can a contract be valid without consideration?

The Indian Contract Act of 1872 states that for any contract to be legally binding, consideration should be provided. An agreement without consideration is not considered valid.

Explanation:

Inadequate consideration is not void but it renders the contract unenforceable because of the improper bargaining or by itself.  If there is no consideration for one or more parties, then it casts a shadow over the legitimacy of the contract. In other words, each party should be able to answer the question of why they entered into the agreement. Those who are unable to answer this question may not have been given proper consideration.