CLAT Legal-Aptitude Contract Law Revision (Page 5 of 5)

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Consideration

Consideration is necessary to form a contract. In its absence, the agreement is void and the promise would be considered only a gravitous or bare promise (nudum pactum). Consideration is the price for which the promise of the offer is… (444 more words) …

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Free Consent

A mere consent is not enough for a valid contract. A contract to be valid must have free consent, i. e. both the parties must agree to the contract on their own will i. e. consensus ad idem and not… (40 more words) …

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