Multiple choice

Which of the following statements is correct?

  1. Past consideration is no consideration.

  2. Consideration can be past, present or future.

  3. Consideration can only be present.

  4. Consideration can only be future.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Option (2) is correct. The past consideration is valid, e.g. pension given to employees after retirement. The present consideration is valid. The future consideration is also valid as one can get an advance from a prospective employer for the services to be given in the future.

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