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Answer all questions in detail Question No:1 What is meant by consideration in the law of contract? Question No:2 What is meant by the rule

Answer all questions in detail

Question No:1

What is meant by consideration in the law of contract?

Question No:2

What is meant by the rule that past consideration is no consideration? In what circumstances can a past act amount to good consideration?

Question No:3

What is meant by the rule that consideration must be sufficient but need not be adequate?

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