Business Studies · Indian Contract Act, 1872 - Consideration
Under the Indian Contract Act, 1872, what does 'Past Consideration' mean?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Consideration and promise move together simultaneously.
- 2Consideration given prior to the making of the promise or contract.✓
- 3Consideration that is executed and provided at the time of agreement.
- 4Consideration that is illegal and invalid under Indian law.
Correct answer
Consideration given prior to the making of the promise or contract.
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