- 10 Marks
BCL – L1 – Q15 – Contract Law
Question
Explain whether consideration is always a requirement for a contract to be valid?
Answer
Consideration in the law of contract may consist of some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss, or responsibility, given, suffered, or undertaken by the other. Consideration is always a requirement to make a contract valid and enforceable. Consideration must be present in all contractual relationships.
- Tags: Consideration, Contract Law, Enforceable Contract
- Level: Level 1
- Topic: Contract Law
- Uploader: Samuel Duah