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The important element for converting an agreement into a contract is the presence of Consideration, however, it is not essential that the consideration should be adequate. Therefore, consideration may or may not be adequate but it should be of some value in the eyes of the law. Also, an agreement to which the consent of the promisor is freely given is not void merely on the basis that the consideration is inadequate; but the inadequacy of the consideration may be taken into account by the Court in determining the question whether the consent of the promisor was freely given or not.
Under which section of the IPC, Gang rape is punishable?
Interim measures can be ordered by Court as per which section of Arbitration and Conciliation Act, 1996?
Which of the following foilowing section of Indian Partnership Act, 1932 is related with the expulsion of a partner ?
Which of the following legal systems is based on judicial precedent?
According to the Transfer of Property Act, when can a Court issue a precept to another Court for the attachment of the judgment-debtor's property?
Which of the following is true about a Minor's liability in a partnership firm?
What is the term of office for the President of India?
Who is the Judge in case of Ashby Vs. White?
Under which products order specifications for vanaspati, margarine and shortenings are laid down?
In the case of a private company, ________________, shall be the quorum for a meeting of the company