Legal Definitions - sufficient consideration

Definition: Sufficient consideration is something that is bargained for and received by a promisor from a promisee. It can be an act, a forbearance, or a return promise that motivates a person to engage in a legal act. Consideration is necessary for an agreement to be enforceable.

Example: If John promises to pay Jane $100 to mow his lawn, the $100 is the consideration for Jane's act of mowing the lawn. In this case, the consideration is sufficient because it is a fair exchange of value between the two parties.

Explanation: In this example, John is promising to pay Jane $100 in exchange for her act of mowing his lawn. This exchange of value is considered sufficient consideration because it is a fair and reasonable exchange between the two parties. Without sufficient consideration, the agreement between John and Jane would not be legally enforceable.