Which one of the following statements is correct ........

Indian Contract Act (ICA)1872 Valid and Void Contracts

Which one of the following statements is correct?

An agreement is void unless supported by adequate consideration

Under Indian Contract Act, 1872, consideration, need not move at the desire of the promisor

The Indian Contract Act, does not recognise past consideration

An agreement made without consideration, is a contract, if it is a promise to compensate a person who has already voluntarily done something for the promisor

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Explanation:

An agreement is not void if not supported by adequate consideration. Under Indian Contract Act, 1872, consideration, need must move at the desire of the promisor. The Indian Contract Act recognise past consideration. An agreement made without consideration, is a contract, if it is a promise to compensate a person who has already voluntarily done something for the promisor.