What is the legal definition of consideration according to Section 2(d) of the Indian Contract Act?

Consideration involves an act, abstinence, or promise made at the desire of the promisor by the promisee or another person.

Which of the following is NOT a type of consideration? 

A) Executory 

B) Past 

C) Future 

D) Implied

D) Implied

True or False: Consideration must always be of equal value to the promise it supports.

False. 

Consideration does not need to be adequate or equal in value to the promise.

Fill in the blank: Consideration must move at the ______ of the promisor.

Desire

In the context of contracts, what is the doctrine that states a stranger to a contract cannot sue?

Doctrine of privity of contract

Past consideration is valid only if:
A) Done at promisor's request
B) Never valid
C) Must be money
D) Always ignored

A) Done at promisor's request

Fill in the blank: 

An agreement made without consideration is generally ______.

Void

True or False: 

A promise to pay a time-barred debt is valid even without consideration.

True. 

A written promise to pay a time-barred debt is valid.

What kind of consideration involves a party doing something that they are already legally obligated to do?

It is not valid consideration.

Which exception to the consideration rule allows for a valid contract without consideration in the context of agency?

Agency (Section 185)

Fill in the blank: 

The consideration must be ______ and must not be illusory.

Real

True or False: 

A promise made as a result of coercion is still valid consideration.

False. 

A promise made under coercion is not valid consideration.

What must be present for a promise made out of natural love and affection to be enforceable?

It must be in writing and registered.

Fill in the blank: 

The consideration must be lawful and not opposed to ______.

Public policy

Term for a promise enforceable by a third party:
A) Privity
B) Trust exception
C) Consideration
D) Novation

B) Trust exception

Which statement about consideration is true?
A) Always monetary
B) Past, present, or future
C) Must be equal in value
D) Not necessary for contract

B) Past, present, or future

What is the difference between executed and executory consideration?

Executed = completed act; Executory = future promise

True or False: 

A stranger to consideration can enforce a contract under Indian law.

True. 

Under Indian law, consideration may move from the promisee or any other person, but only a party to the contract can sue.

Not valid consideration under Indian law:
A) Voluntary services
B) At promisor's request
C) Past service (promisor's desire)
D) Payment for goods

A) Voluntary services

Under what exception can a third party sue despite not being part of the contract?

In the case of a trust, where the beneficiary can enforce rights even if not a party to the original contract.