1] (d) There are some exceptions to the general rule No consideration, No contract:Consideration • August 9th, 2018
ExaminationsConsideration • January 17th, 2018
INTRODUCTION TO CONSIDERATIONConsideration • August 8th, 2021
Consideration’ means “something in return”, i.e. quid pro quo that is an essential element to find out the genuine intention of the parties of the promise to create legal relationship. Consideration is an essential component of a valid contract. Consideration is the price for the contract. An agreement without consideration is void and thus not enforceable by law except under certain circumstances. According to Sir Frederick Pollock. Consideration is the price for which the promise of the other is bought, and the promise thus given for value is enforceable.” An agreement without consideration is a bare promise and exnudo pacto non aritio actio, i.e., cannot be held to binding on the parties.
Name: Date:Consideration • October 9th, 2021
INTRODUCTIONConsideration • September 7th, 2000
The mere fact of agreement alone does not make a contract. Both parties to the contract must provide consideration if they wish to sue on the contract. This means that each side must promise to give or do something for the other. (Note: if a contract is made by deed, then consideration is not needed.)
