Consider the following statements: Consideration is 1. A motive for any promise 2. A price for any promise 3. Only a moral obligation 4. Something of value in the eye of law of these statements.

Related MCQs

• In Indian Law consideration must have been done at the desire of the promisor, if it is done at the instance of a third party or without the desire of the promisor, it is:
• According to Indian Contract Act, a promise is
• Where by the co ntract, a promisor is to perfor m his prom ise without application by the promise and no time for performance is specified, the engagement must be performed within a reasonable time. The question “What i s a reasonable time” is in e ach particular case is
• Each party to a contract is bound to perform his part of the obligation. After the parties have made due performance, the contract comes to an end. In such a case the contract is said to be discharged
• A valid consideration includes,
• In India, a person who is stranger to the consideration
• S sells certain goods to B of Bomba y. The goods are handed over to the ra ilways for transmission to B. In the meantime, B sells the goods to a third party T for consideration without the consent of S. B becomes insolvent. In this case—
• The inadequacy of consideration may be taken into account by the court
• Where consideration is illegal or physically impossible, uncertain or ambiguous, it shall not be
• Agreement of which the consideration is inadequate is