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An agreement without consideration is always enforceable by law. True or False?
- a)True
- b)False
- c)Cannot be determined
- d)Not mentioned
Correct answer is option 'B'. Can you explain this answer?
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An agreement without consideration is always enforceable by law. True ...
An agreement without consideration cannot be enforced by law, except under certain circumstances. Consideration is an essential element of a valid contract, and without it, the agreement is considered a bare promise. There are exceptions to this rule, such as agreements based on natural love and affection or promises to compensate for voluntary services. However, in general, an agreement without consideration cannot be held binding on the parties. Therefore, the statement is false.Example: A promises to give B a gift without any expectation of anything in return. This agreement is not enforceable by law because it lacks consideration.
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An agreement without consideration is always enforceable by law. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'B'. Can you explain this answer?
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An agreement without consideration is always enforceable by law. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'B'. 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 An agreement without consideration is always enforceable by law. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'B'. 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 An agreement without consideration is always enforceable by law. True or False?a)Trueb)Falsec)Cannot be determinedd)Not mentionedCorrect answer is option 'B'. Can you explain this answer?.
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