Cpt indian contract act

Others 6068 views 1 replies

Please explain the below definition of consideration

Why Promisor attains benefit and why promisee attains detriment/loss? According to this definition?

Definition Of Consideration :

The definition given in Curre v Misa  by Lush J

“A valuable consideration in the sense of the law may consist either in some right,interest, profit or benefit accruing to the one party,(i.e Promisor) or some forbearance,determent, loss, or responsibility given, suffered or undertaken by the other…(Promisee)”

 

Replies (1)

promisor is the person who promises to provide his services.

Promisee is the person to whom he is making promise.

for eg. :

x promises y to complete his homework for consideration of worth rs.100.

now x-promisor,

and y-promisee.

y gives x rs.100, hence a sort of loss suffered by y.(promisee)

x receivees rs. 100, hence gain enjoyed by x (promisor)

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register