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Which of the following is/are also called executed consideration(s)?
- a)Past only
- b)Past and present only
- c)Past, present and future
- d)Future only
Correct answer is option 'B'. Can you explain this answer?
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Which of the following is/are also called executed consideration(s)?a)...
Executed Consideration
Executed consideration refers to actions or services that have already been performed in the past or are currently being performed. It is the consideration that has already been given in exchange for a promise.
Also called executed consideration(s)
- Past and present only
Explanation
Executed consideration can be classified into three categories: past, present, and future.
- Past consideration refers to actions or services that have already been completed before the contract was formed.
- Present consideration refers to actions or services that are being performed at the time the contract is formed.
- Future consideration refers to actions or services that will be performed in the future after the contract is formed.
In this case, option B (past and present only) refers to executed consideration as it includes both past and present consideration. Future consideration, which is not included in option B, is not considered executed consideration because it involves actions or services that are yet to be performed. Therefore, option B is the correct choice for the types of consideration that are also called executed consideration(s).
Executed consideration refers to actions or services that have already been performed in the past or are currently being performed. It is the consideration that has already been given in exchange for a promise.
Also called executed consideration(s)
- Past and present only
Explanation
Executed consideration can be classified into three categories: past, present, and future.
- Past consideration refers to actions or services that have already been completed before the contract was formed.
- Present consideration refers to actions or services that are being performed at the time the contract is formed.
- Future consideration refers to actions or services that will be performed in the future after the contract is formed.
In this case, option B (past and present only) refers to executed consideration as it includes both past and present consideration. Future consideration, which is not included in option B, is not considered executed consideration because it involves actions or services that are yet to be performed. Therefore, option B is the correct choice for the types of consideration that are also called executed consideration(s).
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Which of the following is/are also called executed consideration(s)?a)...
Performance of a act is necessary for it to be an executed consideration. So executed consideration cannot be for future. It can be for past and present. (B)
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Which of the following is/are also called executed consideration(s)?a)Past onlyb)Past and present onlyc)Past, present and futured)Future onlyCorrect answer is option 'B'. Can you explain this answer?
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