Consideration
Something of value given in return for a promise, such as money, goods, services or a promise to do or not do something. An agreement without consideration is generally void.
Consideration is the price of a promise. When you agree to sell a car for Rs 2 lakh, the money is the consideration for your promise to hand over the car, and the car is the consideration for the buyer's promise to pay.
The law behind it
Section 2(d) of the Indian Contract Act, 1872 defines consideration: something done, or to be done, or not done, at the desire of the promisor, by the promisee or any other person. Section 25 says an agreement without consideration is void, except:
- A written and registered agreement made out of natural love and affection between near relatives.
- A promise to compensate someone who has already voluntarily done something for the promisor.
- A written, signed promise to pay a debt that has become time-barred.
Why it matters in documents
- A sale deed and an agreement to sell must state the price.
- A gift deed is by definition without consideration, which is why it has its own rules.
- Stamp duty on many property documents is charged on the consideration or the market value, whichever is higher.
Low price
Consideration does not have to be adequate, but a very low price can be evidence that consent was not free, and the stamp authorities may assess duty on market value anyway.
खालील स्रोतांच्या विरुद्ध तपासले ७ नोव्हेंबर, २०२६ IST. भारतीय कायद्याबद्दलची सामान्य माहिती, तुमच्या खटल्यासाठी कायदेशीर सल्ला नाही.