Above Principle was laid down in
Principle on Consideration Defined
Consideration represents a valuable benefit, which can be reasonable or equivalent, passed from the transferor to the transferee.
Qualifying consideration with the word 'adequate' strengthens its meaning, requiring it to be sufficient and valuable considering the specific facts, circumstances, and necessities of the case.
Relevant Case Law
This specific principle regarding the definition and adequacy of consideration was laid down in the case of Sonia Bhatia Vs State of U.P..
Important Questions from Law Relating To Contracts
A contract is said to be discharged by rescission:
A. When terms of a contract are altered
B. When a party makes novation of a contract
C. When an aggrieved party exercises his option to avoid the contract
D. When a party to a contract waives his rights under the contract
E. Where none of the parties has performed its part for a long time and no other party has objected against it
Choose the correct answer from the options given below:
Which of the following statements are TRUE in a contractual capacity?
A. Law presumes that every person is competent to contract unless otherwise proved
B. That a minor can make a contract for necessities of life
C. That a person of unsound mind can enter into the family contracts
D. A convict cannot enter into a valid contract nor can sue
E. That a wife can always make valid business contracts and bind her husband
Choose the correct answer from the options given below:
- Under the Equal Remuneration Act, 1976, which of the following is prohibited ?
- What does psychological emotional abuse include ?
(a) Failure to provide adequate food or clothing.
(b) Provide basic education.
(c) Striking a child
(d) Engaging in a Sexual act or shaming a child.
Choose the correct answer from the options : - What is the purpose of 'The One Stop Centers mentioned in the context of gender-based violence ?
