Contract Act 1950 Section 26

Consideration is an agreement without consideration void.

Contract act 1950 section 26. An agreement made without consideration is void unless a. Section 2 a when one person signifies to another his willingness to do or to abstain from doing anything with a view to obtaining the assent of that other to the act or abstinence he is said to make a proposal. We can refer to the case of mohori bibee v dharmodas ghose in 1903. A agrees to sell a horse worth rm 1 000 for rm 10.

An act relating to contracts. Element would be the capacity to contract. Section 11 of the contract act 1950 comes in three conditions of a person to sign a contract first age of majority. Consideration law 3235 sem 2 2013 2014 3.

According to section 10 1 of the contract act 1950 the parties to the contract are those who have the legal competency to contract. Section 26 the general rule in a contract is that an agreement without consideration is void. There are currently no known outstanding effects for the arbitration act 1950 section 26. Act 136 contracts act 1950 incorporating all amendments up to 1 january 2006 published by.

At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial. Agreement without consideration void. Section 26 contract act 1950. Cite contracts act 1950 section 26 there are several styles of referencing and the format for citation of legislation depends on the type of referencing style used.

Revised legislation carried on this site may not be fully up to date. Section 2 d of the contracts act 1950 lays down the definition of consideration. Section 2 d defined the word consideration is when at the desire of the promisor the promisee or any other person has done or abstained from doing or does or abstains from doing or promises to do or abstains from doing something such act. Legislation from this website is not a copy of the gazette printed by the government printer percetakan nasional malaysia berhad for the purposes of section 61 of the interpretation acts 1948 and 1967 act 388 and does not constitute prima facie evidence of the contents of the gazette by virtue of the section.

Consequences of rescission of voidable contract section. The contract act 1950. The agreement is a contract notwithstanding the inadequacy of the consideration. The illustration f to section 26 of contracts act 1950 clearly states the application of the rule.

It is in writing and registered section 26 a love and affection.