Valuable Consideration

Definition: Something of legal value exchanged in a bargain, such as money, a promise, an act, or forbearance.

Example

A buyer promises to pay an agreed price in exchange for the seller's promise to convey the property.

Keep the distinction clear

Consideration need not always be cash or equal market value. Love and affection is traditionally called good consideration but is different from bargained-for value.

Related terms

Consideration · Good Consideration · Bilateral Contract

Keep studying

Valid, Void, Voidable, and Unenforceable Contracts

References: California DRE: real estate glossary

Pronunciation (US): VAL-yoo-uh-bul kun-sid-uh-RAY-shun (capitals show stress)

Pronunciation reference: Merriam-Webster