- This topic has 1 reply, 2 voices, and was last updated 7 years ago by
.
- Posts
When we say Consideration must be sufficient but need not be adequate. Means that there is no need for each party’s consideration to be equal in value.
Suppose a pen cost $10, and a person pays $6 cash/cheque for this pen, so we know here consideration of $6 cash/cheque is not adequate , in other words, it is INADEQUATE
Now let suppose a pen cost $10, and a person here gives a watch worth $12 in return for buying pen, so here the consideration (watch) is ADEQUATE na?
The question is “Is the consideration moving (both ways) sufficient to merit the title
It need not be adequate – is the values of the two considerations are not required to be the same nor even similar
All that is required is that they are SUFFICIENT to merit the title “consideration” and that simply means that they do have SOME value
OK?
- The topic ‘Consideration’ is closed to new replies.