business law 272

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.