MLchartDataset catalogue

Consideration

Term · Law · MLC-T-LAW-001205

Something of value exchanged between parties to a contract, forming the basis of the agreement. It can be a promise to do something, a promise not to do something, or an actual act or forbearance. For a contract to be legally enforceable, there must be valid consideration from all parties involved.

Table 1. Record
IdentifierMLC-T-LAW-001205
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001205",
  "term": "Consideration",
  "field": "Law",
  "definition": "Something of value exchanged between parties to a contract, forming the basis of the agreement. It can be a promise to do something, a promise not to do something, or an actual act or forbearance. For a contract to be legally enforceable, there must be valid consideration from all parties involved.",
  "url": "https://mlchart.com/terminology/law/consideration/"
}

Record 1,045 of 5,441 in Law terminology (MLC-0107). Request the full dataset.