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Business and Labor Law (MGT611)
Assignment
Due Date: 10 May 2018 Total Marks: 10
Topic to be tested: Consideration
Learning objective:
Through this assignment, the students are expected to be able to analyze definition of
“consideration” with reference to the Contract Act 1872.
Tasks - A
“Consideration” is defined as a promise to do something, forbearance of something or
something in return. Considering this definition, answer the following questions: (6 Marks)
a) Will “anything” be considered a valid consideration by law, irrespective of its value or
materiality?
b) Is existence of mutual promise necessary to accept that there is a consideration? What if a
father gives his car to his son without taking any money?
c) Provide an illustration where forbearance may be deemed a good consideration.

Tasks - B
Explain the below mentioned concepts related to the “scope of consideration” with the help of
suitable examples: (4 Marks)
a) Consideration must be conducive to contract
b) Consideration at the desire of third party
c) Concept of inadequate consideration
d) Past consideration

Note: Consider following points while preparing solution:
• Do not take examples from the course handouts, instead create your own.
• Be honest and perform this task putting your own mental efforts.
• Do not share your solution to the other students. Alternatively, do not get or copy solution
from any other student or any source. Copied solution will be marked as Zero.
--------------------------------------

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Replies to This Discussion

Huryup Guyz, let's start..................

anyone have solution??

bahi & sisters task b to hand out sa recovered ho jaye ga task a ka baraye ma discuss karain

here is some study material 

Attachments:

thanks a lot 4 share this 

Queen Khan , kia ye docx file helpfull hai assignment k liye?

yeh busines nd law ki book hy

Assignment kis ne complete k hy??

Will “anything” be considered a valid consideration by law, irrespective of its value or materiality?  YES OR NO????

Plz Give The Solution

yes i think

plz solution upload karo koi to idea ho

How can you say "YES"???? The validation of consideration in contract is only depend on valuable consideration.... See instructor reply.....

Respected Sir,

 Sir i dont understand 1st Question of Assignment. Please explain first Question in easy words?

 

Thanks....

Post Your Comments

Other Students' Comments: 0

Instructor's Reply:

Dear Student

We welcome you for writing us.

The definition of consideration states that it a something in exchange. You are required to explore what law says about value of consideration. For example a person arranges a labourer for 8 hours working in exchange or Rs.20. Would Rs.20 be accepted by law as a consideration?

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