Which of these is good consideration?
Answer and explanation
Correct answer: C. A promise to pay KSh 5,000 for a laptop
- Step 1: Consideration is something of value given in return for the promise of the other party. Answer: A promise to pay KSh 5,000 for a laptop. Why not the others: A promise to give a gift: A gratuitous promise gives nothing in return. Work done before any promise was made: Past consideration is no consideration. A promise to do something one is already legally bound to do: That gives the other party nothing new.
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