Question: What constitutes consideration in a contract under the Transfer of Property Act?

Options:

1. A promise to do something
2. A promise to refrain from doing something
3. A benefit to one party or a detriment to another
4. All of the above

Correct Answer: All of the above

Solution:

Consideration can be a promise to do something, a promise to refrain from doing something, or a benefit/detriment to the parties involved.