It a power point presentation on lawful Consideration and Object.

1. Lawful Consideration
and Legal Object

2. Meaning of Consideration
Consideration means something for something.
If a person does or promise to do something, he expects something in return.
This something is called Consideration.
When a person makes a promise to another, he does so to receive or gain
something which the other person has or which can be made available by him to
the person making the promise.

4. Elements of Consideration
1. Consideration must be the result of Promisor’s desire/free consent
2. Consideration may move from the promisee or any other person
3. Consideration may be the promise to do something or abstain from doing
something
4. Consideration may be past, present or future.
5. Consideration need not be adequate.(Something in return need not necessarily
equal to something given)
6. Consideration must be legal, real and certain

5. Agreement without Consideration
• For a contract to be legally valid, it must have a consideration.
• Consideration means something in return. If there is no compensation in return
for a promise, there is no legal obligation in the contract.