Consideration is the foundation of ever contract. The law insists on the existence of consideration if a promise is to be enforced as creating legal obligations. A promise without consideration is null and void. It is called a naked promise or "Nudum Pactum." Thus if A promise to pay B Rs. 1000 without anything in return, this constitute a bare promise and gives no right of action.
Sir William Anson has brought out the importance of consideration thus, "offer and acceptance brings the parties together, and constitute an outward semblance of a contract, but most systems of law requires some further evidence of the intention of the parties and in default of such evidence, refuse to recognize an obligation.' This further evidence of the intention of the parties is supplied by consideration which is one of the element of a valid contract. Section 25 of the Indian contract Act supports this contention and provides that agreement without consideration is void.
Consideration is the foundation of ever contract. The law insists on the existence of consideration if a promise is to be enforced as creating legal obligations. A promise without consideration is null and void. orange county criminal defense attorney
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