Judicial Dictionary - C

Judicial Dictionary


Legislative Dictionary


Consideration

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CategoryC
TitleConsideration
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An act, forbearance, or promise by one party to a contract that constitutes the price for which he buys the promise of the other. When, at the desire of the promisor, the promise or any other person has 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. [Section 2(d) of the Contact Act, 1872]

Consideration must be lawful [Purendu Kumar Das vs. Hiren Kumar Das 21 DLR 918] and insufficiency/inadequacy of consideration is not a ground of questioning the contract provided it is in accordance with section 14 of the Contract Act 1872.
Created OnApril 23, 2011, 8:58 AM
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