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 classic literature ?
This was a painful consideration whenever it occurred; and eager to get rid of such a weight on her mind, she very soon resolved to speak to Eleanor about it at once, propose going away, and be guided in her conduct by the manner in which her proposal might be taken.
By paying the costs, you can obtain a full release and discharge from the damages; and further--this I know is a far greater object of consideration with you, my dear sir--a voluntary statement, under her hand, in the form of a letter to me, that this business was, from the very first, fomented, and encouraged, and brought about, by these men, Dodson and Fogg; that she deeply regrets ever having been the instrument of annoyance or injury to you; and that she entreats me to intercede with you, and implore your pardon.
But I hoped that what no consideration for yourself would induce you to do, a regard to our happiness might.
The sole consideration in this unhappy case is Sir Leicester.
When I speak of Sir Leicester being the sole consideration, he and the family credit are one.
Charondas did nothing new, except in actions for perjury, which he was the first person who took into particular consideration.
Pittacus was the author of some laws, but never drew up any form of government; one of which was this, that if a drunken man beat any person he should be punished more than if he did it when sober; for as people are more apt to be abusive when drunk than sober, he paid no consideration to the excuse which drunkenness might claim, but regarded only the common benefit.
For the first time in his experience of his brother, the pecuniary consideration was not the uppermost consideration in Geoffrey's mind.
But to make this the sole consideration of marriage, to lust after it so violently as to overlook all imperfections for its sake, or to require it so absolutely as to reject and disdain religion, virtue, and sense, which are qualities in their nature of much higher perfection, only because an elegance of person is wanting: this is surely inconsistent, either with a wise man or a good Christian.
Worldly prudence, perhaps, exacts some consideration on this head; nor will I absolutely and altogether condemn it.
This consideration was entirely unconnected with Sir Percival.
My absolute reliance on her was the one earthly consideration which helped me to restrain myself, and gave me courage to wait.