consideration
- An exchange of value, such as a benefit, right, or promise, which is fundamental to the validity of a contract
- In their contract, his promise to paint her house was the consideration for her promise to pay $500.
- She refrained from building a fence as consideration for her neighbor's promise to let her use his driveway.
- Unfortunately, the contract was void because it lacked a consideration; both parties didn’t exchange anything of value.
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