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Why is consideration considered an essential element of a valid contract?
  • a)
    It determines the legality of the contract
  • b)
    It establishes the intention of the parties
  • c)
    It provides evidence of the parties' legal relations
  • d)
    All of the above
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Why is consideration considered an essential element of a valid contra...
Consideration is considered an essential element of a valid contract because it determines the legality of the contract, establishes the intention of the parties, and provides evidence of their legal relations. It acts as the price paid by the promisee for the obligation of the promisor. Therefore, option D is the correct answer.
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Why is consideration considered an essential element of a valid contract?a)It determines the legality of the contractb)It establishes the intention of the partiesc)It provides evidence of the parties' legal relationsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
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Why is consideration considered an essential element of a valid contract?a)It determines the legality of the contractb)It establishes the intention of the partiesc)It provides evidence of the parties' legal relationsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Why is consideration considered an essential element of a valid contract?a)It determines the legality of the contractb)It establishes the intention of the partiesc)It provides evidence of the parties' legal relationsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Why is consideration considered an essential element of a valid contract?a)It determines the legality of the contractb)It establishes the intention of the partiesc)It provides evidence of the parties' legal relationsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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