Question

What is consideration? Explain the characteristics of consideration.
प्रतीकल म्हणजे काय? प्रतीकलाची वैशिष्टे स्पष्ट करा.​

Answer 1

Explanation:

Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts ( contract by deeds ) . The concept has been adopted by other common law jurisdictions, including the US.

its main characteristics us that the promissory must give a promise of something that is of value, and the promisee must give something of value in exchange.

Answer 2

Explanation:

What does Consideration mean? The term “consideration” is a concept in English law that refers to the price paid in exchange for the fulfillment of a promise. ... Its main characteristic is that the promissor must give a promise of something that is of value, and the promisee must give something of value in exchange