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business law 272
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.
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
- List of References.