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What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct 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 What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct 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 What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct answer is option 'B'. Can you explain this answer?.

Solutions for What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for B Com. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.

Here you can find the meaning of What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice What is the role of consideration in a contract?a)Consideration determines the circumstances under which promises made by the contracting parties shall be legally binding on them.b)Consideration is the price or value exchanged between the parties in a contract.c)Consideration refers to the rules and regulations provided by the Indian Contract Act, 1872.d)Consideration is the willingness of one person to do or abstain from doing something with a view to obtaining the assent of the other party.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice B Com tests.