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What Are The Essentials Of The Valid Consideration And How These Are Important?

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Nouman Umar answered
In order to make a valid contract there are some essential which should be considered when making contract between two parties. The first and most important thing is that the consideration must move on the willingness of the promiser. In order to make the lawful consideration the person should take the desire or request of the promiser for the consideration. So if there are any conditions which are imposed on the certain condition by any third party then this will not be a valid consideration. There is another thing which must be considered when the other party may move from his promise which he has made during the consideration.

The consideration should contain some act, abstinence or promise which is very essential for the business. The consideration may be a positive actor a negative act. Sometimes a return promise also forms consideration. A consideration may be act that is doing of something. In this sense consideration is in negative form. For a valid consideration there must be a promise from both sides. It means that there must be a promise by one party against the promise of other party. If a person agrees to sell his horse to another person for the amount of 15000 and the other person is willing to pay for the horse the this is the consideration between the two parties.

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