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Consideration may move from the promisee or any other person. Under Indian law, consideration may be from the promisee of any other person i.e., even a stranger. This means that as long as there is consideration for the promisee, it is immaterial who has furnished it. Consideration must be an act, abstinence or forbearance or a returned promise.
Also, upon making an offer, an offeror may include the period in which the offer will be available. If the offeree fails to accept the offer within this specific period, then the offer will be deemed as terminated. An offer may also be revoked by operation of law, if an unreasonable amount of time has passed between offer and acceptance. [46]
Thus whether $1.00 is consideration does not depend on the benefit received but whether the $1.00 had actually been bargained for. In some [clarification needed] jurisdictions, contracts calling for such nominal or "peppercorn" consideration will be upheld unless a particular contract is deemed unconscionable.
The situation is different under contracts within civil law jurisdictions because such nominal consideration can be categorised as a disguised gift. [4] The remainder of this section is a U.S. perception, not English. However, courts will not generally inquire into the adequacy or relative value of the consideration provided by each party. [5]
Following the 2024 Belgian federal and regional elections, Government formation talks began on 10 June.Incumbent Prime Minister Alexander De Croo has announced his resignation [1] and his party's leader Tom Ongena has declared that Open Flemish Liberals and Democrats would not be a part of the next federal government.
According to Robert's Rules of Order Newly Revised (RONR), this motion is not debatable and requires a two-thirds vote against consideration. [2] This objection may be applied only to an original main motion, that is, a motion that brings a new substantive issue before the assembly. [ 2 ]
"Past consideration is no consideration": consideration must be "executory" or "executed", but not "past"; that is, consideration must be supplied in the present or in the future, but things done beforehand cannot be good consideration. [5] ex nudo pacto actio non oritur; Dyer's case (1414) 2 Hen. 5, 5 Pl. 26
Grace periods can range from a number of minutes to a number of days or longer, and can apply in situations including arrival at a job, paying a bill, or meeting a government or legal requirement. In law , a grace period is a time period during which a particular rule exceptionally does not apply, or only partially applies.