Contract law 2 notes kslu

But now these two provisions have been removed from the Act and are placed in two separate Acts known as the Sale of Goods Act, 1930 and the Indian Partnership Act, 1932

So, at present, the Indian Contract Act includes the General Principles of Contract and Special Contracts only

The Indian Contract Act does not expressly say that the consideration must be of some value in the eye of law but the courts have generally followed the English law on this point

That is to say in India also, the consideration must be valuable in the eye of law and not that must be real and not illusory