“ No consideration no contract”-Exception to the rule

1. “ No consideration no contract”-Exception to the rule • Natural love and affection : An agreement made without consideration is valid if it is express in writing and registered under the law and it is made on account of natural love and affection between parties standing in a near relation to each other.

2. “ No consideration no contract”-Exception to the rule Example : Abir for natural love and affection promise to give his son Babu Tk. 1,oo,ooo. Abir puts his promise to his son Babu in writing And it has been registered. Actually there is no consideration but it is a good contract.

3. “ No consideration no contract”-Exception to the rule Example-2 : An agreement entered into by a husband with his wife,during quarrel and disagreement, whereby the husband promised to give some property to his wife. The agreement is void because, under the circumstances ,there is no natural love and affection between husband and wife.

4. “ No consideration no contract”-Exception to the rule 2. Voluntary compensation : A promise made without consideration is valid if it is a promise to compensate wholly or in a part, a person who has already voluntarily done something for the promisor or something which the promisor was legally bound to do.

5. No consideration no contract”-Exception to the rule Example : Dalim findi Boby’s purse and gives it to her. Boby promise to give Dalim Tk. 1000. There is no consideration but it’s a good contract. Example-2 : Dalim suport Boby’s infant son. Boby Boby promise to Dalim’s expenses in so doing . There is no consideration but it’s a good contract

6. No consideration no contract”-Exception to the rule 3. Time barred debt :A promise to pay wholly or in a part, a debt which is barred by the law of limitation can be enforced if the promise is in writing and signed by the debtor or his authorised agent. The debt must be a liquidated or ascertained sum of money and there must be a definite promise to pay.