Question

no consideration no contract comment​

Answer 1

Explanation:

if you find any point wrong apologies

Answer 2

The statement is true

Explanation:

• A contract or an agreement is basically, the mutual agreement among the two parties who are ready to create a legal obligation for both of them in order to perform or conduct particular acts or activities.

• There are 3 elements which make the contract valid as well as enforceable by law, which are offer, acceptance of that offer and lastly the consideration. As consideration is value of something which is exchanged among the parties and it will satisfy the requirements of the third party.

• If there is no consideration in the contract, then the contract will said be void or not valid under the Section 25 of the Indian Contract Act.

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