Welcome to your Ch 7: Consideration (6 to 10)
Examine the following statements in the light of section 2(31) which defines the term consideration-
i. Forfeiture of advance money is a consideration for cancellation of services.
ii. Collection of excess amount by mistake is not a consideration. The excess amount is not returned back.
7. Examine the following statements in the light of section 2(31) which defines the term consideration-
i. Imposition of fine for violation of provision of law is not a consideration.
ii. Imposition of fine for breach of contract is not a consideration.
8. Examine the following statements in the light of section 2(31) which defines the term consideration-
i. Late delivery charges is not a consideration.
ii. Cancellation charges is not a consideration.
