consideration
Definitions
General English
- noun careful thought
- noun something which has an effect on a decision
Accounting
- noun something valuable exchanged as part of a contract
Aviation
- noun something important to remember and to think carefully about
Construction
- The price, motive, or benefit that induces parties to form a contract. A contract is not legally enforceable without consideration.
Law
- noun the price, in money, goods, or some other reward, paid by one person in exchange for another person promising to do something, which is an essential element in the formation of a contract
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