PPT - Consideration | Business Law - B Com PDF Download

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Consideration 
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Consideration 
? Section 2 (d) Indian contract act says that,
? “ When at the desire of the promisor ,the promisee or 
any other person has done or abstain from doing, or 
does or abstain from doing, or promises to do or 
abstain from doing, something, such act or 
abstinence or promise is called consideration ”.
? Consideration is the price  for which the promise of 
the other is bought, and the promise thus given  for 
value is enforceable.
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Consideration 
? Section 2 (d) Indian contract act says that,
? “ When at the desire of the promisor ,the promisee or 
any other person has done or abstain from doing, or 
does or abstain from doing, or promises to do or 
abstain from doing, something, such act or 
abstinence or promise is called consideration ”.
? Consideration is the price  for which the promise of 
the other is bought, and the promise thus given  for 
value is enforceable.
? An act - means doing of something.
? An abstinence – promising not to do something .
? A promise – the promise of each party is the 
consideration for each other.
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Consideration 
? Section 2 (d) Indian contract act says that,
? “ When at the desire of the promisor ,the promisee or 
any other person has done or abstain from doing, or 
does or abstain from doing, or promises to do or 
abstain from doing, something, such act or 
abstinence or promise is called consideration ”.
? Consideration is the price  for which the promise of 
the other is bought, and the promise thus given  for 
value is enforceable.
? An act - means doing of something.
? An abstinence – promising not to do something .
? A promise – the promise of each party is the 
consideration for each other.
? It is ‘quid pro quo’ i.e. something in return.
? It is the price of promise.
? Eg; X agrees to sell his TV set to Y for rs.8000. TV 
set is the consideration of Y and Rs. 8000 is the 
consideration of X.
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Consideration 
? Section 2 (d) Indian contract act says that,
? “ When at the desire of the promisor ,the promisee or 
any other person has done or abstain from doing, or 
does or abstain from doing, or promises to do or 
abstain from doing, something, such act or 
abstinence or promise is called consideration ”.
? Consideration is the price  for which the promise of 
the other is bought, and the promise thus given  for 
value is enforceable.
? An act - means doing of something.
? An abstinence – promising not to do something .
? A promise – the promise of each party is the 
consideration for each other.
? It is ‘quid pro quo’ i.e. something in return.
? It is the price of promise.
? Eg; X agrees to sell his TV set to Y for rs.8000. TV 
set is the consideration of Y and Rs. 8000 is the 
consideration of X.
? Consideration should be passed at the request of offerer: 
Offeree should send only such consideration which is wanted 
by offerer. In case where offeree sends un-wanted 
consideration, he has no right to claim counter consideration. 
? Durga Prasad v Baldeo.
? D constructed a market at the instance of the Collector of a 
District. The occupants of the shops in the said market 
promised to pay D a commission on articles sold through their 
shops. Later on they failed to pay commission and D filed a 
suit for the recovery of same. Held,
? There was no consideration because the money was not spent 
by the plaintiff at the request of the defendants, but 
voluntarily for a third person and thus the contract was void.