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Which of the following statement is false? Consideration:
- a)Must move at the desire of the promisor.
- b)May move from any person.
- c)Must be illusory.
- d)Must be of some value.
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Which of the following statement is false? Consideration:a)Must move a...
A promise that is unenforceable because of uncertainty or absence of commonality, where just one side will undoubtedly perform. Consideration isn't official if the promise doesn't make an obligation or force a commitment, for example, with illusory promises. Illusory promises remember end provisions for agreements and yield and necessities contracts.
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Which of the following statement is false? Consideration:a)Must move a...
Explanation:
Consideration is a key element in the formation of a contract. It refers to something of value that is exchanged between the parties to the contract. The consideration must be sufficient to support the promise made by the other party. Here are the four statements regarding consideration:
a) Must move at the desire of the promisor: This statement is true. The promisor must desire the consideration in order for it to be valid.
b) May move from any person: This statement is also true. Consideration can come from any person, as long as it is of some value.
c) Must be illusory: This statement is false. Illusory consideration is not considered valid because it does not create an obligation on either party.
d) Must be of some value: This statement is true. Consideration must be of some value, even if it is nominal.
Conclusion:
In conclusion, statement (c) is false because illusory consideration is not valid. Consideration must be of some value to support the promise made by the other party.
Consideration is a key element in the formation of a contract. It refers to something of value that is exchanged between the parties to the contract. The consideration must be sufficient to support the promise made by the other party. Here are the four statements regarding consideration:
a) Must move at the desire of the promisor: This statement is true. The promisor must desire the consideration in order for it to be valid.
b) May move from any person: This statement is also true. Consideration can come from any person, as long as it is of some value.
c) Must be illusory: This statement is false. Illusory consideration is not considered valid because it does not create an obligation on either party.
d) Must be of some value: This statement is true. Consideration must be of some value, even if it is nominal.
Conclusion:
In conclusion, statement (c) is false because illusory consideration is not valid. Consideration must be of some value to support the promise made by the other party.
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Community Answer
Which of the following statement is false? Consideration:a)Must move a...
According to legal rules regarding consideration..
consideration must be real not illusory
ex : if a man says to discover treasure by magic ; its illusory
consideration must be real not illusory
ex : if a man says to discover treasure by magic ; its illusory
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Which of the following statement is false? Consideration:a)Must move at the desire of the promisor.b)May move from any person.c)Must be illusory.d)Must be of some value.Correct answer is option 'C'. Can you explain this answer?
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