CMA Inter Paper 5 Business Laws And Ethics Practice Questions - CMA Intermediate Paper 5 Business Laws And Ethics Exam

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Consideration that consists of an act or promise relating to the past, given before the promise was made, is treated under the Indian Contract Act, 1872 as:

Executory consideration Unlawful consideration Past consideration, which is valid in India Inadequate consideration that is void

Correct Answer:

Past consideration, which is valid in India

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