consideration
consideration, defined:
the subject matter of the agreement. It is the thing of value that is bargained for which has some legal value. Consideration, as it is used in common speech, has a much broader meaning that it does in legalese and the world of contracts.
consideration, as it might be used:
The court held that the continued use of the plaintiff's services as a gardener was sufficient evidence to support a ruling that the defendant's had agreed to pay him the difference between the consideration originally agreed upon and the amount actually paid.
An example of consideration:
Fergus enters into an agreement with a coworker, Albert, who owns box seats for the New York Yankees. In exchange for Fergus' use of the tickets on five nights during the regular season, Albert is to get use Fergus' Florida timeshare over the Christmas holiday. Fergus and Albert have an agreement based on mutual consideration: Fergus gets the tickets. Albert gets the timeshare.
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Clear-Point Law Dictionary
