consideration

/keuhn sid'euh ray"sheuhn/, n.
1. the act of considering; careful thought; meditation; deliberation: I will give your project full consideration.
2. something that is or is to be kept in mind in making a decision, evaluating facts, etc.: Age was an important consideration in the decision.
3. thoughtful or sympathetic regard or respect; thoughtfulness for others: They showed no consideration for his feelings.
4. a thought or reflection; an opinion based upon reflection.
5. a recompense or payment, as for work done; compensation.
6. importance or consequence.
7. estimation; esteem: He is held in great consideration by the community.
8. Law.
a. something that suffices to make an informal promise legally binding, usually some value given in exchange for the promise.
b. the hearing of a case by a tribunal.
9. in consideration of,
a. in view of.
b. in return or recompense for: She was offered money in consideration of her efforts.
10. take into consideration, to take into account; consider: We failed to take into consideration the large number of tourists attending the exhibition.
[1350-1400; ME ( < AF) < L consideration- (s. of consideratio), equiv. to considerat(us) (see CONSIDERATE) + -ion- -ION]
Syn. 1. reflection, contemplation, rumination, attention. 3. kindness, kindliness, concern. 5. remuneration, fee. 6. weight, significance, moment. 7. See honor.

* * *

▪ contract law
      in contract law, an inducement given to enter into a contract that is sufficient to render the promise enforceable in the courts. The technical requirement is either a detriment incurred by the person making the promise or a benefit received by the other person. Thus, the person seeking to enforce the promise must have paid, or bound himself to pay, money, parted with goods, spent time in labour, or foregone some profit or legal right. In a contract for the sale of goods, the money paid is the consideration for the vendor, and the property sold is the consideration for the purchaser.

      This definition, however, leaves unanswered the question of what is sufficient consideration. During certain periods of history, nominal consideration was held to be sufficient—even a cent or a peppercorn. Gradually, the courts came to require that the consideration be valuable, although not necessarily equal in value to what is received. The courts have had to decide specifically whether acts of forbearance on the faith of a promise, the giving of a counterpromise, money payments, preexisting duties to the promisor, preexisting duties to third parties, moral obligations, love and affection, surrender of another legal claim, or performance of a legal duty were sufficient, and the answer has varied considerably over time.

      The doctrine that a consideration is necessary if a contract is to be enforceable has a number of functions in the law of contracts. In addition to providing evidence that a contract exists, consideration also has the cautionary function of guarding the promisor against ill-considered action; the deterrent function of discouraging transactions of questionable utility; and a channelling function of enabling interested persons to distinguish particular types of transactions.

      Although the doctrine of consideration is unique to common law, these functions are also performed in other modern systems of law.

* * *


Universalium. 2010.

Synonyms:

Look at other dictionaries:

  • consideration — con·sid·er·a·tion n: something (as an act or forbearance or the promise thereof) done or given by one party for the act or promise of another see also contract compare motive ◇ Except in Louisiana, consideration is a necessary element to the… …   Law dictionary

  • considération — [ kɔ̃siderasjɔ̃ ] n. f. • XIIe; lat. consideratio 1 ♦ Action d examiner avec attention. ⇒ attention, étude, examen. Affaire qui demande une longue considération. Vieilli Sans considération de personne. ⇒ acception. Mod. Être digne de… …   Encyclopédie Universelle

  • considération — CONSIDÉRATION. sub. f. Action par laquelle on considère, on examine. Cela est digne de considération. Cela mérite considération, demande une longue considération, beaucoup de considération. f♛/b] En ce sens, il signifie au pluriel, Réflexions,… …   Dictionnaire de l'Académie Française 1798

  • consideration — Consideration. s. f. v. Action par laquelle on considere. Il a fait cela sans consideration. cela est digne de consideration. cela merite consideration. longue consideration. Il signifie aussi, Raison, esgard. Il a fait cela par telle… …   Dictionnaire de l'Académie française

  • Consideration — Con*sid er*a tion (k[o^]n*s[i^]d [ e]r*[=a] sh[u^]n), n. [L. consideratio: cf. F. consid[ e]ration.] 1. The act or process of considering; continuous careful thought; examination; contemplation; deliberation; attention. [1913 Webster] Let us… …   The Collaborative International Dictionary of English

  • consideration — Consideration, Consideratio, Animaduersio, Notatio, AEstimatio, Reputatio. Avec grande consideration, pensement et advis, Considerate. On ne sçauroit estimer que la consideration de la Lune y sert, Infinitum refert lunaris ratio. Sans… …   Thresor de la langue françoyse

  • consideration — [kən sid΄ər ā′shən] n. [ME consideracioun < L consideratio] 1. the act of considering; careful thought or attention; deliberation 2. thoughtful or sympathetic regard for others 3. something that is, or should be, considered, as in making a… …   English World dictionary

  • consideration — [n1] mental analysis application, attention, cogitation, concentration, contemplation, debate, deliberation, discussion, examination, forethought, heed, reflection, regard, review, scrutiny, study, thinking, thought; concept 24 Ant. disregard,… …   New thesaurus

  • Consideration — bezeichnet im Common Law ein Erfordernis für die Einklagbarkeit von Verträgen. Zur Rechtslage in einzelnen Ländern siehe: Consideration (England und Wales) Consideration (Vereinigte Staaten) Diese Seite ist eine Begrif …   Deutsch Wikipedia

  • consideration — mid 14c., a beholding, looking at, also keeping in mind, from O.Fr. consideracion (12c., Mod.Fr. considération), from L. considerationem (nom. consideratio) consideration, contemplation, reflection, noun of action from considerat , pp. stem of… …   Etymology dictionary

  • consideration — ► NOUN 1) careful thought. 2) a fact taken into account when making a decision. 3) thoughtfulness towards others. 4) a payment or reward. ● in consideration of Cf. ↑in consideration of …   English terms dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.