WebConsideration Questions MCQ (1) Groupex ch05 (2) - essay style question ... Part payment of a debt is not valid Consideration must not be past Consideration must be sufficient but need not be adequate Consideration must move from the promisor An existing duty owed to a third party is not valid An existing contractual duty owed to the promisor ... WebFeb 24, 2024 · 2. A valid consideration has the following essential elements : (a) It must move at the desire of the promisor (b) Consideration may be supplied by the promisee … dr teresa cheung cobourg WebQuestion 7. Which of the following statements is correct? a) Consideration must be of adequate value. b) Performance of a duty imposed by law is good consideration. c) … WebELEMENTS OF. CONSIDERATION [4316] Consideration, which must be given in order to make a contract legally binding, is legally sufficient and bargained-for value, given by the promisor in return for the promisee performing or refraining from performing some act which results in a detriment to the promisee and/or a benefit to the promisor. A ... combatant thesaurus synonyms Web(a) Consideration must result in a benefit to both parties (b) Past consideration is no consideration in India. (c) Consideration must be adequate. (d) Consideration must … WebAug 31, 2024 · That is to say, the value the promisor places on the consideration must be of the same value the promisee places on performance of the contract terms. In other words, both parties want to know ... dr teresa claus agoura hills WebMultiple choice Questions on Business Law. Practice for BBA or MBA exams using these MCQ. Page 14. ... What is legal terminology for the doing or not doing of something …

WebJan 28, 2024 · 4) must not do; Answer. Answer 2) is not already bound to do. Practice set and Exam Quiz. Yes! You can do Online MCQ practice of Business Law question set and give online exam quiz test for Business Law, so you can check your knowledge. You can get MCQ Study and Exam link from home page. WebJun 28, 2024 · 4. A valid consideration has the following essential elements : (a) It must move at the desire of the promisor (b) Consideration may be supplied by the promisee or any other person (c) Consideration may be past, present or future (d) All the above dr teresa houwing eastwood medical centre WebConsideration must be something which a promisor is not already bound to do: ... discuss 12. Which is the following 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 some value: ... , Business Laws multiple choice questions and answers, Business Laws Important … WebApr 10, 2024 · The rules governing the valid consideration are as follows: 1. CONSIDERATION MUST MOVE AT THE DESIRE OF THE PROMISOR. An act or abstinence or a promise which forms the consideration for the promise must have been done at the desire of the Promisor. The desire of the promisor may be Express or Implied. dr teresa chen mass eye ear WebSufficient consideration, because Liz has promised something of value. Which is not a requirement for valid consideration: a) Equal value must be exchanged. b) Promises must involve the concept of a bargained-for exchange. c) Something of value must be involved. d) The benefits and detriments promised must be legal. WebSection 2(d) Contracts Act 1950 states that when at the desire of the promisor, the promise or any other person had done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing, something, such act or abstinence or promise is called a consideration for the promise. As a general rule, an agreement without … dr teresa short excelsior springs mo Web20)Consideration – a)must move from the promisee , b) may move from the promisee or any other person c)may move from the third party d) may move from the promisor. 21)Consideration-a)must be adequate to the promise made, b) need not be adequate to the promise made c)must be of reasonable value d) must be of more value than the …

WebNov 5, 2024 · Questions. A decides to sell the house to B. The value of the house is Rs 1 Crore. Which of the following is the valid consideration for this contract? Amit helped … dr teresa flower psychiatrist WebConsideration Questions MCQ (1) Groupex ch05 (2) - essay style question ... Part payment of a debt is not valid Consideration must not be past Consideration must be sufficient … dr teresa phillips parkersburg wv