Deleted user
posted 2 years ago
Most simply, consideration is something of value that is promised or exchanged in a contract. For example, if one party agrees to sell goods or services to another, the consideration would be the price paid for those goods or services. For a contract to be enforceable, the consideration must be "sufficient," meaning that it must be of some value (even if it is not economic value) and cannot be something that the promisor is already legally obligated to do. So, for example, a promise to do something impossible or illegal could not be enforced because there is no consideration supporting that promise.
