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The Indian contract act,1872
Corporate & Other Laws
Explain" to form a valid contract, consideration must be adequate"
Answers (2)
Dhakshana Dhakshana
As per ICA A contract in which consent is freely given is not void merely because of inadequate consideration..in other words as long as the contract has free consent it is valid irrespective of the amount of consideration
Correct, so it must be something of value, it need not be adequate. As an exception if consideration is shockingly less and the other party alleges that his consent was not free, then this inadequate consideration can be taken as an evidence in support of this allegation.
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