It is clear from the above definitions that the term “reflection” is used in the sense of “quid-pro-quo,” which means “something in return.” This “something” may be an advantage, right, interest or profit, or some leniency, inconvenience, loss or liability for the other party. (3) In India, the definition of consideration is contained in Section 2, point (d), of the Indian Contracts Act of 1872. An agreement without consideration is non-conclusive. Please explain this rule and, if applicable, the exceptions to the state. Unless the Indian Contract Act of 1872 of Section 2 (e) stipulates that any promise and series of promises that constitute mutual consideration is an agreement. Therefore, we can see that the existence of a consideration for a promise or promise is necessary for a promise to become an agreement. Therefore, there can be no agreement if there is no quid pro quo. Section 25 of the Act says the same thing in exact terms and also gives three exceptions where an agreement without consideration is a valid contract: Section 25: An agreement without consideration is annulled, unless it is written and recorded and the promise was made because of the natural love and affection between the parties standing nearby. It is a promise to compensate all or part of a person who has voluntarily done something for the Promisor or something that the Promisor was legally required to do. It`s a promise to pay for a prescribed debt.

Exceptions to the “No Consideration No Contract” rule. The general rule of law is that an agreement without consideration is null and fore. But there are some exceptional cases where a contract can be implemented, even without consideration. Sometimes a contract is cancelled by the court because it is not considered. This usually occurs when: (b) It is registered (according to the law currently in force for the registration of documents) 25. agreement without consideration, unless it is written and recorded or is a promise to compensate something done or is a promise to pay a debt prescribed by the statute of limitations (b) A, for natural love and affection , promise to give his son B, Rs. 1.000 A, sets his promise to B in writing and records it. It`s a contract.

The benefit thus obtained and the loss, damage or inconvenience thus caused are legally regarded as the consideration of the undertaking. Therefore, a contract cannot generally be considered without consideration. “No consideration, no contract” is the rule of law. · The agreement must be reached between the parties who have a close relationship and 1.