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
- Which one of the following is invalid for the relationship among the agent, the sub-agent and the principal?
- Match List I with List II
List I List II Features Remedies for breach of contract A. Breach of promise to marry I. Suit for injuction B. Part performance (as much as earned) II. Rescission of contract C. Absolvation from all obligations III. Sue for quantum meruit D. Mode of securing the specific performance of negative terms of contract IV. Vindictive damage
Chose the correct answer from the option given below: - Working Journalists and other Newspaper employees and Miscellaneous Provisions Act 1955 specified __________ service is eligible for gratuity.
- What does 'Civil Contempt' under the contempt of Courts Act 1971, mean?
- Body which have adjudicatory powers to settle disputes among Tele communication Service providers is
