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  • Consideration means ‘quid pro quo’ i.e. something in return
  • ƒConsideration means a reasonable, equivalent or any other valuable benefi t passed on by the promisor to the promisee
  • ƒThe English Law does not recognise past consideration
  • ƒA stranger to a consideration can sue but a stranger to a contract cannot sue
  • ƒAn agreement made without consideration is void
  • ƒMere nearness of relation by itself does not necessarily imply natural love and aff ection
  • ƒA debt is time barred by limitation, if it remains unpaid or unclaimed for a period of three years.
  • ƒContract requiring personal skills cannot be assigned

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