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Understanding Consideration in Contract Law: Definition, Rules, and Exceptions

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Consideration in contract law refers to the benefits, interests, or forbearances exchanged between parties. It can originate from the promisor or a third party and may take various forms, including acts, abstinence, or promises. Key cases such as Abdul Aziz v. Masum Ali and Durga Prasad v. Baldeo illustrate the principles of consideration, emphasizing its necessity and conditions, such as being real, not against public policy, and not previously bound commitments. Exceptions to consideration include love and affection, charitable subscriptions, and more.

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Understanding Consideration in Contract Law: Definition, Rules, and Exceptions

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  1. Consideration

  2. Definition May consist either in some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other • Abdul Aziz vsMasum Ali • Kedar NathvsGuari Mohamed

  3. Legal Rules as to Consideration • Must move at the desire of the promisorDurga Prasad vsBaldeo • May move from the promisee or any other person ChinnayavsRamayya • It may be an act, abstinence or forbearance or a return promise ( compromise, composition with creditors) Debi RadhaRanivs Ram Dass • It may be past, present or future • It need not be adequate

  4. Contd • It must be real Still vs Myrick • Not something which promisor is not already bound to do RamchandraChintamanvsKaluRaju • It must not be opposed to public policy

  5. Stranger to the Contract • Dunlop Pneumatic Tyres Vs Selfridge • Exceptions • Trust • Marriage settlement, partition or family arrangements • Assignment • Contracts through agents • Covenants running with the land

  6. Contract without Consideration is Void - Exceptions • Love & Affection • Compensation for voluntary services • Promise to pay a time barred debt • Agency • Charitable Subscription

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