Changes

: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

: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==

==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

'''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: Law]]

[[Category: General Reference]]

[[Category: General Reference]]