What is consideration?

  • (noun): A discussion of a topic (as in a meeting).
    Example: "Consideration of the traffic problem took more than an hour"
    See also — Additional definitions below

Consideration

Consideration is the concept of legal value in connection with contracts. It is anything of value promised to another when making a contract. It can take the form of money, physical objects, services, promised actions, abstinence from a future action, and much more. Consideration to create a legally enforceable contract entails a detriment to the promisee OR a benefit to the promisor. Under the notion of "pre-existing duties", if either the promisor or the promisee already had a legal obligation to render such payment, it cannot be seen as consideration in the legal sense.

Read more about Consideration.

Some articles on consideration:

Distant Past - Awards Notes
... Shawn Pyfrom submitted this episode for consideration of his work in the category of "Outstanding Supporting Actor - Comedy Series" for the 2008 Emmy Awards ... Richard Chamberlain also submitted this episode for consideration in the category of "Outstanding Guest Actor - Comedy Series" for the 2008 Emmy Awards ... Bergen also submitted this episode for consideration in the category of "Outstanding Guest Actress - Comedy Series", which resulted in a nomination ...
Consideration And Initiating Structure - Consideration and Initiating Structure - Consideration
... Consideration is the extent to which a leader exhibits concern for the welfare of the members of the group ...
LGBT Rights In Gibraltar - Summary Table
2005) Anti-discrimination laws in the provision of goods and services (Under consideration) Anti-discrimination laws in all other areas (incl ... indirect discrimination, hate speech) (Under consideration) Recognition of same-sex couples (e.g ... Civil Partnerships) (Under consideration) Adoption by same-sex couples Gays allowed to serve in the military (under UK military since 2000) Right to change legal gender Access to ...
Stilk V Myrick - Judgment
... Here, I say, the agreement is void for want of consideration ... There was no consideration for the ulterior pay promised to the mariners who remained with the ship ... upon themselves, and their agreeing to do so might have been a sufficient consideration for the promise of an advance of wages ...
Consideration - Treatments By Different Legal Systems
... Consideration under English law Consideration under American law Consideration is not required for a contract under Scots contract law ...

More definitions of "consideration":

  • (noun): The process of giving careful thought to something.
  • (noun): Information that should be kept in mind when making a decision.
    Example: "Another consideration is the time it would take"
    Synonyms: circumstance, condition
  • (noun): A fee charged in advance to retain the services of someone.
    Synonyms: retainer