Consideration

Indian Contract Act, 1872 : Consideration

This test has a total of 100 questions and total time of 60 minutes. Please make sure you have read instructions about user interface by clicking here – Detailed Instructions.

After attempting all questions, click on Quiz Summary then Click Finish Quiz to Submit the test.
Before you appear for this test make sure you have studied the following sub-topics under chapter Meaning and Scope of Accounting.


♦ The concept of consideration, its importance for a contract and its double aspect.
♦ How consideration may move from a third party and how this makes the contract valid.
♦ The peculiar circumstances when a contract is valid even without consideration.
♦ The rule ‘A stranger to a contract cannot sue’ and exceptions thereof.


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