question archive Advise whether there is a good consideration provided in the following independent situations: Raymond was voted as "the best sales person of the year 2013" for having successfully sold 500 units of cars
Advise whether there is a good consideration provided in the following independent situations: Raymond was voted as "the best sales person of the year 2013" for having successfully sold 500 units of cars
Subject:BusinessPrice:4.89 Bought15
Advise whether there is a good consideration provided in the following independent situations:
Raymond was voted as "the best sales person of the year 2013" for having successfully
sold 500 units of cars. The company in which Raymond was employed told him that he
can buy any one of the new 2000 c.c. cars, worth RM150, 000 each, in the show room for
RM1, 000 only. This was in appreciation of his contribution to the company's sales
revenue. Raymond could not believe that this is true.
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Ans. To be good consideration, it must have some value, even though it is very small value. Which mean that when the parties exchange the value, so exchanging the value, it has to be sufficient but need not to be adequate.
Raymond was voted as "the best sales person of the year 2013" for having successfully sold 500 units of cars. The company in which Raymond was employed told him that he can buy any one of the new 2000 c.c. cars, worth RM150, 000 each, in the show room for
RM1, 000 only.
Therefore, this is true as the RM1,000 was valuable consideration, even though it was manifestly inadequate
