BCL – Nov 2020 – L1 – Q5c – Contract Law

Explain whether consideration is always a requirement for a contract to be valid.

Question

Explain whether consideration is always a requirement for a contract to be valid. (5 marks)

Answer

Consideration in the law of contract may consist of some right, interest, profit, or benefit accruing to one party, or some forbearance, detriment, loss, or responsibility given, suffered, or undertaken by the other. (3 marks)
Consideration is always a requirement to make a contract valid and enforceable. Consideration must be present in all contractual relationships. (2 marks)