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Consideration contd

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Consideration contd

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • January 22, 2018 at 7:37 pm #432168
    humai
    Participant
    • Topics: 757
    • Replies: 248
    • ☆☆☆☆☆

    But let suppose a pen cost $10, and a person here gives a watch worth $12 in return for buying pen, so here which consideration is ADEQUATE? just asking for sake of knowledge. And I know the rule that consideration must be sufficient but need not to be adequate

    January 23, 2018 at 6:18 am #432274
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    No one is interested in whether or not consideration is adequate – no one else cares, so why should you?

    So long as it’s sufficient, that’s all that is required

    If a person wants to exchange a $12,000 watch for a $1 pen, that’s entirely up to them and no one needs to question their motives

    OK?

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  • The topic ‘Consideration contd’ is closed to new replies.

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