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Agreement without consideration is valid when made ?
- a)Out of love and affection due to near relationship
- b)To pay a time barred debt
- c)To compensate a person who has already done something voluntarily
- d)All of these
Correct answer is option 'D'. Can you explain this answer?
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Agreement without consideration is valid when made ?a)Out of love and ...
Out of love and affection due to near relationship
Agreements made out of love and affection due to near relationship are considered valid without consideration. This is because the law recognizes that there is an inherent trust and bond in such relationships which can be considered as a form of consideration.
To pay a time barred debt
An agreement to pay a time-barred debt is also considered valid without consideration. This is because the debtor has a moral obligation to pay the debt even if it is legally unenforceable due to the expiration of the limitation period.
To compensate a person who has already done something voluntarily
An agreement to compensate a person who has already done something voluntarily is also valid without consideration. This is based on the principle of equity and fairness, where the law recognizes the need to reward individuals for their actions even if there was no prior agreement for compensation.
Therefore, in all of the above cases, agreements made without consideration are considered valid under the law.
Agreements made out of love and affection due to near relationship are considered valid without consideration. This is because the law recognizes that there is an inherent trust and bond in such relationships which can be considered as a form of consideration.
To pay a time barred debt
An agreement to pay a time-barred debt is also considered valid without consideration. This is because the debtor has a moral obligation to pay the debt even if it is legally unenforceable due to the expiration of the limitation period.
To compensate a person who has already done something voluntarily
An agreement to compensate a person who has already done something voluntarily is also valid without consideration. This is based on the principle of equity and fairness, where the law recognizes the need to reward individuals for their actions even if there was no prior agreement for compensation.
Therefore, in all of the above cases, agreements made without consideration are considered valid under the law.
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Agreement without consideration is valid when made ?a)Out of love and affection due to near relationshipb)To pay a time barred debtc)To compensate a person who has already done something voluntarilyd)All of theseCorrect answer is option 'D'. Can you explain this answer?
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