consideration

consideration,

n a valued commodity exchanged between two parties in a legal agreement with one another, such as money, services, and so forth.

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consideration,

n inducement to make a contract. It may be a benefit to the promisor or a loss or detriment to the promisee. Consideration must be regarded as such by both parties.

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consideration

the essential element in all contracts; the return for the outlay. Wages, leave entitlements are considerations in a contract of appointment, even though many of them are unwritten. The provision of housing as part of an employment package is a consideration. The fee for surgery is the consideration in return for the surgery.