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Created page with 'File:lighterstill.jpgright|frame *Date: [http://www.wikipedia.org/wiki/14th_Century 14th century] ==Definitions== *1 : continuous and careful [[th...'
[[File:lighterstill.jpg]][[File:Consideration.jpg|right|frame]]
*Date: [http://www.wikipedia.org/wiki/14th_Century 14th century]
==Definitions==
*1 : continuous and careful [[thought]] <after long consideration he [[agreed]] to their requests>
*2 a : a matter weighed or taken into account when [[formulating]] an [[opinion]] or [[plan]] <[[economic]] considerations forced her to leave college>
:b : a taking into account
*3 : thoughtful and [[sympathetic]] regard
*4 : an opinion obtained by [[reflection]]
*5 : esteem, regard <the [[family]] built themselves a large, ugly villa…and became people of consideration — V. S. Pritchett>
*6 a : recompense, payment <a consideration paid for legal services>
:b : the inducement to a contract or other legal [[transaction]]; specifically : an [[act]] or forbearance or the promise thereof done or given by one party in return for the act or promise of another
==Description==
'''Consideration''' is the [[legal]] [[concept]] of [[value]] in [[connection]] with contracts. It is anything of [[value]] in the common sense, promised to another when making a contract. It can take the form of [[money]], [[physical]] objects, [[services]], [[promise]]d [[actions]], abstinence from a [[future]] action and much more. 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.[http://en.wikipedia.org/wiki/Consideration
[[Category: Law]]
[[Category: General Reference]]
*Date: [http://www.wikipedia.org/wiki/14th_Century 14th century]
==Definitions==
*1 : continuous and careful [[thought]] <after long consideration he [[agreed]] to their requests>
*2 a : a matter weighed or taken into account when [[formulating]] an [[opinion]] or [[plan]] <[[economic]] considerations forced her to leave college>
:b : a taking into account
*3 : thoughtful and [[sympathetic]] regard
*4 : an opinion obtained by [[reflection]]
*5 : esteem, regard <the [[family]] built themselves a large, ugly villa…and became people of consideration — V. S. Pritchett>
*6 a : recompense, payment <a consideration paid for legal services>
:b : the inducement to a contract or other legal [[transaction]]; specifically : an [[act]] or forbearance or the promise thereof done or given by one party in return for the act or promise of another
==Description==
'''Consideration''' is the [[legal]] [[concept]] of [[value]] in [[connection]] with contracts. It is anything of [[value]] in the common sense, promised to another when making a contract. It can take the form of [[money]], [[physical]] objects, [[services]], [[promise]]d [[actions]], abstinence from a [[future]] action and much more. 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.[http://en.wikipedia.org/wiki/Consideration
[[Category: Law]]
[[Category: General Reference]]