Simple English definitions for legal terms
Read a random definition: fraudulent representation
Legal consideration refers to something of value that is exchanged between parties in a contract. This can be an act, a promise, or a forbearance. Consideration is necessary for a contract to be enforceable.
For example, if you agree to pay someone $100 to mow your lawn, the $100 payment is the legal consideration for the act of mowing the lawn. If one party fails to provide the agreed-upon consideration, the contract may not be enforceable.
It is important to note that consideration must be something of value. For instance, if you promise to mow someone's lawn out of the goodness of your heart, that promise is not considered legal consideration because it does not involve an exchange of value.