consideration

Definition

Something with monetary value, voluntarily exchanged for an act, benefit, forbearance, interest, promise, right, or goods or services. In banking, the loan-amount is a consideration, in exchange for the borrower's promise to repay the principal and to pay interest and other charges. In insurance, the insurance company's offer to make a loss good is a consideration in exchange for payment of premium. Essential element of all enforceable commercial-contracts, it does not have to be 'adequate' or equal in value to the exchanged item but must be legal (not in violation of any law). Any commercial contract without a valid (valuable and legal) consideration is invalid and is called 'nudum pactum' (Latin for, naked contract) governed by the legal maxim 'ex nudo pacto non oritur actio' (Latin for, a right of action does not arise from a naked contract). See also good consideration, and valuable consideration.

Use 'consideration' in a Sentence

When we pay our insurance payments regularly we expect to receive fair consideration promptly in the event we need it.

Once he turned professional, Vincent promised himself not to do any design work -- even as a favor for a friend -- without some sort of monetary consideration.

When a jury is deliberating about a case it is very important that they take all the facts into consideration to get the correct judgement.

单词	consideration
释义	consideration Definition Something with monetary value, voluntarily exchanged for an act, benefit, forbearance, interest, promise, right, or goods or services. In banking, the loan-amount is a consideration, in exchange for the borrower's promise to repay the principal and to pay interest and other charges. In insurance, the insurance company's offer to make a loss good is a consideration in exchange for payment of premium. Essential element of all enforceable commercial-contracts, it does not have to be 'adequate' or equal in value to the exchanged item but must be legal (not in violation of any law). Any commercial contract without a valid (valuable and legal) consideration is invalid and is called 'nudum pactum' (Latin for, naked contract) governed by the legal maxim 'ex nudo pacto non oritur actio' (Latin for, a right of action does not arise from a naked contract). See also good consideration, and valuable consideration. Use 'consideration' in a Sentence When we pay our insurance payments regularly we expect to receive fair consideration promptly in the event we need it. Once he turned professional, Vincent promised himself not to do any design work -- even as a favor for a friend -- without some sort of monetary consideration. When a jury is deliberating about a case it is very important that they take all the facts into consideration to get the correct judgement.
随便看	Dun & Bradstreet rating dunnage dunning letter duopoly duopsony duotone duplex duplex apartment duplex connection duplexer duplexing duplex-numeric filing duplex stainless steel duplicable selling system duplicate duplicate bill of lading (B/L) duplicate copy classification duplicate coverage inquiry duplicated audience duplication of benefits du pont formula durability durable goods orders durable power of attorney duration