Section 23(c) in Jammu and Kashmir Contract Act, Svt. 1977 (1920 A.D.)
(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.
