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TMI BlogMeaning of expression “valuable consideration”X X X X Extracts X X X X X X X X Extracts X X X X ..... e buyer for parting with the title to the goods. The price would include not only the price of the goods but also the expenditure incurred for transporting the goods, duties levied, etc. The entire amount of consideration including the sales tax component which the purchaser pays, constitutes the price of goods. As already noted, the expression price under the Sale of Goods Act is limited to a mon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... form of cheque, bank draft, promissory note, etc. are species. Money has a wider connotation to include a valuable consideration in the form of money or a payment in monetary terms which is the price for the transfer of property paid. Thus, a valuable consideration is also a species of money which is the consideration for the transfer of goods under the sales tax enactments. Benjamin s Sale of Goo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credit or charge card or by stored value card or sometimes referred to as digital cash card or electronic purses, internet payments on which that value is stored electronically. There can also be payment by direct debits to effect payment of goods supplied particularly when there are recurring payments of variable amounts. The seller can obtain through the banking system in direct debit forms to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f by an agreement. It is for nothing that he consents to impose an obligation upon himself, or to abandon or transfer a right. It is in consideration of such and such a fact that he agrees to bear new burdens or to forego the benefits which the law already allows him. The gist of the term consideration and its legal significance has been clearly summed up in Section 2(d) of the Indian Contract Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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