Question

which of the following statements is/are correct:

A. A promise generally cannot be enforced by a party to the promise if that party has not given consideration of it.

B.Consideration means that the parties to the contract did not act unfairly or unconscionably.

C.Consideration means that each party has given something in return for the promise of the other party.

D.Both parties must offer equal consideration.

a. All of A B C and D

b. B and C

c. Only A and B

d. Only A and C

e. Only A

f. Only C

Answer 1

Answer

Its Answer is option d i.e Only A & C

Explaination:-

1. For Above A Point

A Promise is enforceable only when consideration presents. Hence if consideration not presents then the promise is not enforceable So, this point is true.

2. For Above B Point

Consideration does not mean that that the parties to the contract did not act unfairly or unconscionably rather consideration means "something is Return". Hence this point is wrong

3. For Above C Point

Consideration means "something in return" (Something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances). The Above mentioned statement is correct  that each party has given something in return for the promise of the other party.

4. For Above D Point

Consideration means "something in return" that means anything in return. In other words, consideration does not mean that equally by both parties. it means only something in return presents in contract. Hence the above statement is wrong.

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