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What are the exceptions to the rule that No consideration - No contract?
Wiki User
∙ 12y ago
Section 25 declares that `an agreement made without consideration is void'. It means that consideration is a must in all cases. Exceptions to the rule are: • written and registered agreement out of natural love and affection between the parties; • promise to compensate a person who has voluntarily done something for the promisor; • promise to pay time-barred debt; • completed gift; • creation of agency
Wiki User
∙ 12y ago
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∙ 11y agothere is no answer...
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What is preexisting contractual duty?
A preexisting contractual duty is a common law rule of contract. It is wherein a party's offer of a performance already required under an existing contract is an insufficient consideration for modification of the contract.
What are the exceptions to the density rule?
Water and mercury are the only currently known exceptions to the density rule.
What is a consideration of a contract?
Consideration is the Promise or Performance that flows between the parties to a contract. It is also called legal detriment.
Can an option contract be created without consideration?
No. An option contract requires consideration for the option. Absent consideration for the option, the offer may be withdrawn at any time.
What are the advantages and disadvantages of past consideration?
The advantages of consideration in a valid contract
What can you do if you are written out of a will?
As a rule, nothing. There are exceptions to the rule if you are a blood descendant or surviving spouse and were not named in the will, among a few other exceptions.
Where there is no consideration there is no contract-comment?
In business
Can parents enter an agreement of who pays child support?
Generally, no. Child support must be ordered by a judge, and in most states the judge is required to follow established child support guidelines. However, there are usually exceptions to these guidelines that the judge can take into consideration, but these are exceptions and not the rule.
The first step in negotiating a contract is?
consideration
What are some exceptions to the octet rule?
No but apples do!
Why a past consideration is not a good consideration?
Do you mean consideration for contract formation? To have a bargain, you have to be willing to give something up. For example, if we had a contract for the purchase of your car for $5000, you would give up your car, and I would give up $5000. That's consideration. If the consideration is in the past (e.g. you already gave up your car), that's not going to create a binding contract.
Consideration in contract terms refers to a party's competency to enter in a contract?
True
