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business law 272

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QUESTION

As a general rule, an agreement without consideration is void.

– Section 26 of the Contracts Act 1950.

Discuss this statement and explain exceptions to this general rule.

(100 marks)

Your report format should be as follow:

  • Introduction that consists of explanation on meaning of consideration.
  • Explanation on exceptions of Section 26, where contract is valid even though without consideration. Must support with relevant laws and cases
  • Conclusion
  • List of References.
 
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