Lawful Consideration Archives

“Insufficiency of consideration is immaterial, but a valid contract must be supported by lawful and real consideration.” Comment.

“Insufficiency of Consideration is Immaterial, but a Valid Contract Must be Supported by Lawful and Real Consideration.” Comment Introduction In contract law, consideration is one of the essential elements required to form a valid contract. It refers to something of value exchanged between the parties. The Indian Contract Act, 1872 emphasizes that although the consideration […]

“Insufficiency of consideration is immaterial, but a valid contract must be supported by lawful and real consideration.” Comment. Read More »

“Insufficiency of consideration is immaterial, but a valid contract must be supported by lawful and real consideration.” Comment.

Introduction Consideration is one of the essential elements of a valid contract as per Section 10 of the Indian Contract Act, 1872. It refers to something in return – an act or abstinence – given by the promisee in exchange for the promisor’s promise. However, the adequacy or sufficiency of consideration is not necessarily a