consideration

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Consideration

Money or other payment provided in exchange for an act or service that helps a business. Consideration may be cash in which case, it is more like a sale or payment-in-kind. For example, a person may receive a certain amount of equity in a business in exchange for giving or allowing the business to use the person's intellectual property.

consideration

Something of value provided by one party to another. For example, a person might provide an idea or labor to a business in exchange for shares of ownership.

consideration

  1. something of value which is offered by a party to a CONTRACT in exchange for something of value received. Consideration usually takes the form of a monetary payment in exchange for GOODS or SERVICES received, but could involve, for example, the direct exchange of one product for another (as in BARTER).
  2. the sum of money paid by an investor to purchase SHARES, STOCKS, etc., or the proceeds from selling such securities before allowing for stockbroker's commission and other transfer expenses.

consideration

An act or a promise given by one person in exchange for an act or a promise from the other.The values do not have to be equal, and it has been said that one may promise to give a barleycorn in exchange for the promise to deed a castle,and it will be sufficient.It is a common misperception that earnest money is the component that makes a real estate contract enforceable. In reality, the promise to buy, and the promise to sell, is sufficient consideration. Consideration is an essential element for contract enforcement.

Consideration substitutes. Sometimes the law will permit enforcement of a contract even though one side or the other did not give consideration, if there was an allowed consideration substitute. The most common one is detrimental reliance, in which one person promises to do a thing gratuitously and another worsens his or her position in reliance on that promise. Under ordinary circumstances this would be a mere promise to make a gift, and unenforceable. Because of the detrimental reliance, however, it may become an enforceable contract.

Adequate consideration. If this is required by law, the consideration must be reasonably close to the value of the thing promised or exchanged.

Good consideration. The consideration is based on natural duty and affection or a moral obligation, such as property sold for “love and affection.”

Consideration of support. It is not uncommon for elderly parents to transfer property to their children “in consideration of care and support.” In most states, such transfers are voidable if the care and support are not forthcoming.

References in periodicals archive ?
A discussion of legal considerations associated with digital signatures by one of the nation's top information security and IP lawyers.
The guide results from a collaboration between the Agency for Healthcare Research and Quality (AHRQ) and the Department of Health and Human Services Office of Public Health Emergency Preparedness, and it was written by leading experts in six areas related to mass casualty care: prehospital care, hospital and acute care, alternative care sites, palliative care, ethical issues, and legal considerations.
As a portfolio manager of proprietary accounts and a law school graduate, he has the unique understanding of both the financial and legal considerations of the property owner.
For example, the reauditor should directly obtain attorneys' letter confirmation responses about significant legal considerations.
This digest in Spanish examines schools' dress-code policies and discusses the legal considerations and research findings about the effects of such changes.
Acquisitions may involve taking on only the non-clinical aspects of the practices or, where corporte practice and other legal considerations permit, acquiring the entire practice.
In a preview of his presentation at IncreMental Advantage's Mergers & Acquisitions Due Diligence Conference, David Grinberg, Partner with Manatt, Phelps & Phillips, discussed the Importance of Evaluating Legal Considerations for Structuring Corporate Combinations in a recent interview with IncreMental Advantage.
The training required is to enable sports clubs to achieve the following:- facilities/resources management, good practice, budgeting, planning, cost savings governance, organisation management and good practice, decision making financial and operational planning, management and administration fund raising, sponsorship, pursuing grants, including how to research and prepare applications partnership options, financing and legal considerations for multi partner sports projects.
She explains how RNs provide care, apply nursing theory and the nursing process, think critically and use thinking and clinical judgment, function as a communicator and teacher, manage the consumer in the health/illness continuum, manage all levels of care, and apply ethical and legal considerations.
Called Residential I and II, the courses cover areas such as regulations, economic trends, legal considerations, data collection and analysis, and other factors that contribute to property valuations.
Section 1, "Lambda Legal Defense and Education Fund on the Legal Considerations for Creating and Changing Statewide Laws and Policies," discusses the various types of statewide laws and policies (civil rights statutes, education statutes, and education regulations or policies); implementation and enforcement of the varying types of statewide laws and policies; and arguments made against the promotion of laws to protect LGBT students (e.
You may not have any idea of the legal considerations that need to be taken into account, and the lodger may be smarter than you and bind you to terms that you live to regret.