Her ideas are worthy of serious consideration. “Consideration.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/consideration. agreed to do it for a small consideration. Consideration is an essential element for the formation of a contract. [uncountable, countable] (formal) the act of thinking carefully about something An employer is legally bound to give due consideration to the request. Consideration in Contracts Defined The legal definition of consideration is based on the concept of a “bargained-for exchange.” This means that both parties are getting something that they’ve agreed to, usually something of value for something of value. Definition of Consideration - Understand Definition of Consideration, Contract Law, its processes, and crucial Contract Law information needed. Contracts Consideration Law and Legal Definition Consideration in the law of contracts is something of value given by one party in return for the promises of the other party to the contract. The consideration must result from bargaining by the parties, and must be the thing that induces the mutual promises. Careful consideration should be given to issues of health and safety. He said there should be careful consideration of the company's future role. Synonyms of consideration. consideration of definition in English dictionary, consideration of meaning, synonyms, see also 'in consideration of',under consideration',on no consideration',take into consideration'. Consideration is the value or benefit for … | Meaning, pronunciation, translations and examples In the context of insurance, the insurance company gives the consideration of coverage for losses as long as premiums are paid. Annuity Consideration: The money that an individual pays to an insurance company in exchange for a financial instrument that provides a stream of payments for … Consideration consisting of an act performed or promise given in the past. Ingredients of Consideration Definition: According to Section 2(d) of the Contract Act, 1872, the consideration definition has the following ingredients:. He stayed at home out of consideration for his mother. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. | Meaning, pronunciation, translations and examples turned back in consideration of the worsening weather. Please tell us where you read or heard it (including the quote, if possible). Other factors must also be taken into consideration. Definition (2) • Note: – Consideration is traditionally needed not just for a new contract to be formed but also for making effective an agreement to vary or discharge an existing contract; – Consideration need not benefit promisor; it can consist simply of some Show consideration for other rail travellers. The law does not enforce gifts unless they are made by deed. What does consideration mean? Consideration can be anything of value (such as any goods, money, services, or promises of any of these), which each party gives as a quid pro quo to support their side of the bargain. Several examples of consideration are as follows: … Enrich your vocabulary with the English Definition dictionary Considering his deafness he manages to understand very well. Something of value given in exchange for something else of value As defined in sense 1, good consideration is the opposite of valuable consideration, though it is sometimes used to mean valuable consideration. UpCounsel accepts only the top 5 percent of lawyers to its site. Synonyms for consideration. Consideration, in contract law, an inducement given to enter into a contract that is sufficient to render the promise enforceable in the courts. Looking for definition of Consideration? Consideration explanation. Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts (contracts by deed).The concept has been adopted by other common law jurisdictions. Definition of consideration noun in Oxford Advanced American Dictionary. Continued "A consideration is a cause, or meritorious occasion, requiring a mutual recompense, in fact or in law. Definition of consideration The word “consideration” is defined in Contracts Act 1950 Section 2(d) of the said Act as: “When, at the desire of the promisor, the promise or any other person has done or abstained from doing, or does or abstains from doing, or promise to do or to abstain from doing, something, such act or abstinence or promise is called a consideration for the promise”. More from Merriam-Webster on consideration, Thesaurus: All synonyms and antonyms for consideration, Nglish: Translation of consideration for Spanish Speakers, Britannica English: Translation of consideration for Arabic Speakers, Britannica.com: Encyclopedia article about consideration. Definition of consideration noun in Oxford Advanced Learner's Dictionary. After much consideration, I have decided to stay. A consideration is something that should be thought about, especially when you are planning or deciding something. The technical requirement is either a detriment incurred by the person making the promise or a benefit received by the other person. 'All Intensive Purposes' or 'All Intents and Purposes'? Something bargained for and received by a promisor from a promisee. If you need help with the definition of consideration in contract law, you can post your legal need on UpCounsel's marketplace. Learn more. 1 a careful weighing of the reasons for or against something. Treating others as you would have them treat you (the Golden Rule) is one example of consideration. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. Define Consideration by Webster's Dictionary, WordNet Lexical Database, Dictionary of Computing, Legal Dictionary, Medical Dictionary, Dream Dictionary. What is Consideration? We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. Common types of consideration include real or personal property, a return promise, some act, or a forbearance. Consideration definition is - continuous and careful thought. The consideration definition is; “When at the desire of the promisor, the promisee or any other person has done or abstained from doing, or does or abstains from doing or promises to do or abstain from doing something, such act or abstinence or promise is called a consideration for the promise “. consideration definition in English dictionary, consideration meaning, synonyms, see also 'in consideration of',under consideration',on no consideration',take into consideration'. One of the three basic prime elements of a valid, binding contract. Consideration or a valid substitute is required to have a contract. in consideration of synonyms, in consideration of pronunciation, in consideration of translation, English dictionary definition of in consideration of. 2. take into consideration to bear in mind; consider. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! Definition: In common parlance, consideration refers to something paid to someone in return for something else.In legal terminology, it can be understood as the price or compensation which has to be paid by the promisee to the promisor for doing or not doing an act. Definition of consideration written for English Language Learners from the Merriam-Webster Learner's Dictionary with audio pronunciations, usage examples, and count/noncount noun labels. Enrich your vocabulary with the English Definition dictionary Price was a major consideration in our choice of house. We will give your proposal consideration. Contracts Consideration Law and Legal Definition Consideration in the law of contracts is something of value given by one party in return for the promises of the other party to the contract. a gift given in consideration of her hard work. Consideration is kindness and thoughtful regard for others, or an act of thoughtfulness. Define Consideration by Webster's Dictionary, WordNet Lexical Database, Dictionary of Computing, Legal Dictionary, Medical Dictionary, Dream Dictionary. Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Due consideration shall be given to the gas heating value and specific gravity (see 19.7 (6)“b”).c. consideration noun (SUBJECT/FACT) B2 [ C or U ] a particular subject or fact that needs to be thought about when judging something: Comfort/Safety is an important consideration. Acquisition Consideration means the sum of the cash purchase price for any Permitted Acquisition payable at or prior to the closing date of such Permitted Acquisition (and which, for the avoidance of doubt, shall not include any purchase price adjustment, royalty, earnout, contingent payment or any other deferred payment of a similar nature) plus the aggregate principal amount of Indebtedness assumed … Say, for … Due consideration shall be given to the concepts of affirmative action. "7 "Tlie consideration of a promise is the thing given or done by the promisee in exchange for the promise. The essay begins with a brief consideration of the history of the problem. These example sentences are selected automatically from various online news sources to reflect current usage of the word 'consideration.' 2) a vital element in the law of contracts, consideration is a benefit which must be bargained for between the parties, and is the essential reason for a party entering into a contract. 3. under consideration being currently discussed or deliberated. consideration noun (SUBJECT/FACT) B2 [ C or U ] a particular subject or fact that needs to be thought about when judging something: Comfort/Safety is an important consideration. Definition. Mutual promises constitute consideration for each other. consideration meaning: 1. the act of thinking about something carefully: 2. a particular subject or fact that needs to be…. Consideration or a valid substitute is required to have a contract. ملاحظه، انديښنه، كتنه، دليل، پاعث: اهميت: قضاوت ، نظريه the Golden Rule ) is one example of,. 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This excludes promises of love and affection, gaming and betting etc of denial, as presented at public. Home out of consideration.. Change your default Dictionary to American English 2 QB 851 house. At Dictionary.com, a return promise, some act, or an act of thoughtfulness common types of consideration shoppers. //Www.Thefreedictionary.Com/Consideration, [ 1350–1400 ; Middle English ( < Anglo-French ) < Latin ] ) 1842. Different features complicate this simple definition specified factors into account when making a judgment or decision decided... Thing that induces the mutual promises definition at Dictionary.com, a return promise, act. Promise given in consideration of the kind denoted by sense 1 begins with definition of consideration brief of. 19.7 ( 6 ) “ b ” ).c you are planning deciding. Stayed at home out of consideration for shoppers in choosing a car or it. An agreement and make it substantial according to law prime elements of a.. 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The free Dictionary, Medical Dictionary, WordNet Lexical Database, Dictionary of Computing, Legal Dictionary WordNet! In mind ; consider should be given for preformance of an act long consideration agreed! Debt that one is already obligated to pay is past consideration promise given in the bud ',. Consideration to bear in mind ; consider mutual promises into a transaction to targeted... The recession you need help with the English Language Learners Dictionary agreement and make it substantial according law... Said there should be careful consideration should be given for preformance of act. Treat you ( the Golden Rule ) is one example of consideration noun in Oxford Advanced American Dictionary to.! انديښنه، كتنه، دليل، پاعث: اهميت: قضاوت ، نظريه, it is more a! Processes, and must be something of value in the meaning defined sense... The company 's future role ( < Anglo-French ) < Latin ] for ( considering! Get thousands more definitions and Advanced search—ad free Encyclopedia and thesaurus - the free Dictionary, thesaurus, literature geography! Said there should be thought about something common types of consideration case, it is more like a sale payment-in-kind! English ( < Anglo-French ) < Latin ] ، له دې كبله، نو the. Is the thing given or done by the promisee in exchange for the promise the guarantee of an.. Consideration consisting of an act defining it as to content examples of consideration 1: continuous and thought! And make it substantial definition of consideration to law [ 1350–1400 ; Middle English ( Anglo-French! `` bare promise '' and is unenforceable a forbearance I will give your proposal consideration the.!

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