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Index >> Letter C  
       
Consideration : meaning
 
 

Consideration is a vital element of a legally enforceable contract.

As per section 2 (d) of Indian Contract Act

When, at the desire of the promisor, the promisee 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.

 

 

 

 

   

   
 
   

   
   
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