Question

Which one of the following is correct?

(A) Past consideration is no consideration

(B) Consideration may be past, present and future

(C) Consideration may only be present

(D) Consideration can only be present and future​

Answer 1

Explanation:

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Which of the following statement is true about consideration?

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Answer

Correct option is

A

Past consideration is valid in India.

Rules of consideration

- The promise amounts to a gift it is not a consideration. Thus contract without consideration are valid eg. gift

- It must move at the desire of the promisor

- Consideration may be past, present or future.

-Consideration must be real.

-An existing public duty will not amount to valid consideration.

-Consideration need not be adequate,provided it is for some value.

Answer 2

Answer:

option A is correct

Explanation:

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