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Consideration is an essential element of a valid contract. True or False?
- a)True
- b)False
- c)Cannot be determined
- d)Not mentioned
Correct answer is option 'A'. Can you explain this answer?
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Consideration is an essential element of a valid contract. True or Fal...
Consideration is indeed an essential element of a valid contract. It refers to the price paid by the promisee for the obligation of the promisor. Without consideration, a promise cannot be enforced by law, except under certain circumstances. Therefore, the statement is true.Example: A offers to sell his car to B for $10,000. In this contract, the consideration for A's promise is the car, while the consideration for B's promise is $10,000.
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Consideration is an essential element of a valid contract. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'A'. Can you explain this answer?
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Consideration is an essential element of a valid contract. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'A'. 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 Consideration is an essential element of a valid contract. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'A'. 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 Consideration is an essential element of a valid contract. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'A'. Can you explain this answer?.
Consideration is an essential element of a valid contract. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'A'. 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 Consideration is an essential element of a valid contract. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'A'. 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 Consideration is an essential element of a valid contract. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'A'. Can you explain this answer?.
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