Consideration

Something of value given in exchange for a promise. Must move at the desire of the promisor. Section 2(d) ICA 1872.

Type: noun Branch: Contract Level: Intermediate Jurisdiction: Global

Pronunciation: 🇺🇸 US/kənsɪdərˈeɪʃən/ 🇬🇧 UK/kənsɪdəˈeɪʃən/

Definition

Something of value given in exchange for a promise. Must move at the desire of the promisor. Section 2(d) ICA 1872.

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