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What is the antonym for thoughtful?
The antonym for "thoughtful" is "thoughtless," which means lacking consideration or attention to others.
What is verbal consideration?
Verbal consideration refers to a promise or agreement that is made through spoken words rather than a written document. In contract law, verbal consideration still holds legal weight as long as there is evidence to support the agreement. However, written contracts are generally preferred because they provide clearer terms and evidence of the agreement.
What is unlawful consideration in contracts?
Section 23The consideration or object of an agreement is lawful, unless- it is forbidden by law 1[ ; or is of such a nature that, if permitted, it would defeat the provisions of any law; or is fraudulent; or involves or implies injury to the person or property of another or; the Court regards it as immoral, or opposed to public policy. In each of these cases, the consideration or object of an agreement is said to be unlawful. Every agreement of which the object or consideration is unlawful is void.
What is the significance of contractual consideration?
the significance of consideration in law of contract is that it sets a value of exchange to the agreement between the parties
Will an unenforceable promise constitute consideration as long as the parties to the contract appear to be in agreement?
true
What are the features of void contract?
Features An agreement made by incompetent parties (Minor/Lunatic Person) is void. Any agreement with a bilateral mistake is void. Agreements which have unlawful consideration is void. Agreement with a unlawful object is void. Agreements made without consideration is void. Agreement in restraint of marriage of any major person is void (absolute restriction). Agreement in restraint of trade is void.(reasonable reason) An agreement the terms of which are uncertain is void. An agreement by way of wager (betting/gambling) is void. An agreement contingent upon the happening of an impossible event is void. Agreement to do impossible acts is void.
When may genuineness of assent be lacking?
Genuineness of assent may be lacking in a contract if one party was coerced, misled, or mistaken about the terms or subject matter of the agreement. This lack of genuine assent can make the contract voidable.
An agreement is made by?
Two or more parties who reach a meeting of the minds, for consideration (being something of value).
What are the key elements of a contract?
Agreement Consideration Intention to create legal relations Certainty Capacity Formalities
What is the legal definition of Spirit of the agreement?
The spirit of an agreement goes beyond its explicit terms, to include the implied terms and a consideration of the purpose of the agreement. In short, when someone argues that the 'spirit of the contract' has been breached, they are grasping at straws.
Is a text agreement legally binding?
Yes, a text agreement can be legally binding if it meets the requirements for a valid contract, such as offer, acceptance, consideration, and intention to create legal relations.
What are the exceptions to the rule that No consideration - No contract?
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
