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Consideration

Corporate & Other Laws

Will anyone pls eleborate executed consideration with respect to past consideration and executory consideration with respect to future consideration

Ram Shete

CA Inter

★ 2K+

05-Jun-20 16:45

400

Answers (2)

In the case of executed consideration the promise and the act are integral parts of the same transaction; where the consideration is past the promise is given subsequent to, and quite independently of, the act. Executory or future consideration is one that takes the form of a promise to be performed in the future. It is the price promised by one party in return for the other partyâ??s promise.