Question

When at the desire of the promisor, the promisee or any other person has done or abstained from doing something or does or abstains from doing something or promises to do or abstain from doing something, such act or abstinence or promise is called a

• A. Proposal
• B. Consideration
• C. Acceptance
• D. Agreement

Hint:

Reading the bare act is indispensable. This question is impossible to answer without knowing the precise definition of 'Consideration' from Section 2(d) of the Contract Act. Pay special attention to the definitions chapter (Section 2) of major statutes.

Answer 1

The Correct Option is B

Step 1: Understanding the Concept:
The question provides a lengthy definition and asks to identify the legal term it corresponds to from the Indian Contract Act, 1872.
Step 2: Detailed Explanation:
The text provided in the question is the verbatim definition of Consideration as given in Section 2(d) of the Indian Contract Act, 1872.
Let's break down the definition:
- "When at the desire of the promisor...": The act must be done at the promisor's request.
- "...the promisee or any other person...": In Indian law, consideration can move from the promisee or any other person (Doctrine of Privity of Consideration).
- "...has done or abstained from doing (past), or does or abstains from doing (present), or promises to do or abstain from doing (future)...": It explicitly recognizes past, present, and future consideration.
- "...such act or abstinence or promise is called a consideration...".
This is the classic definition of 'quid pro quo' or 'something in return'.
Step 3: Final Answer:
The definition provided in the question is the exact legal definition of Consideration. Therefore, option (B) is correct.