Valuable Consideration - Definition - Law Dictionary Home Dictionary Definition valuable-consideration

Definition :

Valuable consideration, the expression 'valuable consideration' has a well known connotation in law and it is not synonymous with 'adequate consideration', Jagadguru Gurushidda Swami v. Dakshina Maharashtra Digambar Jain Sabha, AIR 1953 SC 514 (516): (1954) SCR 235. (Limitation Act, 1968, s. 10)

The classic definition of 'valuable consideration' is given in Currie v. Misa, (1875) 10 Ex. 153 (162), thus: 'A valuable consideration in the sense of the law may consist either in so right, interest profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility, suffered or undertaken by the other, Chidambara Iyer v. P.S. Ranga Iyer, (1966) 1 SCR 168: AIR 1966 SC 193 (197). [Tamil Nadu Agriculturists Relief Act (4 of 1938), ss. 9A, 10(ii)(b)]