State The Exception To The Rule That An Agreement Without Consideration Is Void

To attract this exception, it should be noted that the promise must be to compensate a person who has done something for the promisor himself and not for a person who has done nothing for the promisor. Consideration usually consists of a promise to do something that the law does not require you to do or a promise not to do something to which you have the legal right. If you accept an offer, do so as soon as possible, as it can be revoked at any time until you accept it. As soon as you agree, the agreement is legally binding and cannot be modified or revoked. If the services are provided voluntarily, without the wish of the promiser or otherwise than at his request, and the promiser undertakes to compensate the person who provided his services. In such cases, the promise does not need consideration to support it, and the matter falls under section 25 of the Act; Sindha Shri Ganpatsingji v. Abraham aka Vazir Mahomed Akuji, (1895) 20 Bom 755. An agreement entered into without consideration is applicable if it is in writing (i) registered in writing and (ii) registered under current document registration legislation and (iii) due to natural love and affection; (iv) between parties who are close to each other. There are therefore four essential requirements that must be met in order to enforce an agreement concluded without consideration in accordance with Article 25(1). Explanation 2: an agreement on which the agreement of the promiser is voluntarily granted is not only null and void because the consideration is insufficient; However, the inadequacy of the consideration may be taken into account by the Court of Justice when examining whether the promiser`s agreement was given voluntarily. An agreement concluded without consideration is not concluded, unless some offers have an expiry date, but these do not remain open for a reasonable period. What represents a reasonable amount of time is not interpretive.

If a party wants to need more time to review your offer longer than you deem appropriate, you can ask them to pay for the option, as you cannot submit the offer to anyone during this period. Thus, when a Hindu husband, after referring to disputes and disagreements between him and his wife, produced a registered document in favor of his wife and agreed to pay for a separate stay and pension, it was found that the agreement was cancelled for lack of consideration, because it was not made out of natural love and affection. (Rajlakhi Devi vs. Bhootnath) If there is a written agreement signed by the debtor or his agent for the payment in whole or in part of a debt prescribed under the statute of limitations, the agreement is valid, even if it is not supported by consideration. The inadequacy of the examination is a fact which the Court of Justice should take into account when considering whether A`s agreement was given voluntarily or not. (f) A agrees to sell a horse worth 1,000 for paragraph 10. A`s agreement was given voluntarily. The contract is a contract, regardless of the insufficiency of the consideration. 25.

Agreement without consideration, unless it is written and recorded, or is a promise to compensate something done or is a promise to pay a debt prescribed by the statute of limitations To attract this exception, there is no need for natural love and affection or closeness of the relationship between the donor and what has been done. . . .

Print Friendly, PDF & Email
Please follow and like us: