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[Cites 0, Cited by 1] [Section 23] [Entire Act]

Union of India - Subsection

Section 23(c) in The Indian Contract Act, 1872

(c)A promises, for a certain sum paid to him by B, to make good to B the value of his ship if it is wrecked on a certain voyage. Here, A's promise is the consideration for B's payment, and B's payment is the consideration for A's promise, and these are lawful considerations.