Consideration

Consideration contract

The thing of value each side gives up in a contract — what makes a promise legally enforceable rather than just a gift.

Technical: The bargained-for exchange (a benefit to the promisor or detriment to the promisee) required, in general, for a contract to be enforceable at common law.

Sources: Cornell LII — Consideration

A dictionary entry is reference: it describes how a term is used. It is not itself binding law. Why that matters →

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