Question

Which of the following statement is TRUE regarding consideration?

Answer

a. Consideration must move from the promisee.

b. Past consideration is not a good consideration.

c. Agreement without consideration is valid.

d. Agreement to pay a statute-barred debt is valid

Answer 1

Only a person who has given something of value may enforce a promise to him .so it can be said that the consideration must move from the promisee. It is not related to payment of the consideration by the third party unless that third party was acting as an agent.

Other statements are not accurate because past consideration can be sometimes taken as consideration whereas agreement without consideration is void.

Correct answer would be option ( A) consideration must move from the promisee.