New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following statement regarding

    ‘consideration’ in a contract is false?
    A Consideration can be real or illusory Correct Answer Incorrect Answer
    B Consideration may be past, present or future Correct Answer Incorrect Answer
    C Consideration must move at the desire of the promisor Correct Answer Incorrect Answer
    D All of the above Correct Answer Incorrect Answer

    Solution

    Essential elements of Consideration: Section 2 (d) of Indian Contract Act •       Consideration must move at the desire of the promisor •         Consideration may move from the promisee or any other person •         Consideration must be real not illusory •         Consideration may be past, present or future. •         It must be Lawful •         It must not be immoral or opposed to public policy

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