Definition of consideration in the Definitions.net dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. As defined in sense 1, good consideration is the opposite of valuable consideration, though it is sometimes used to mean valuable consideration. Such a definition is no more than a generalization of those things 1 … Enrich your vocabulary with the English Definition dictionary The technical requirement is either a detriment incurred by the person making the promise or a benefit received by the other person. One of the three basic prime elements of a valid, binding contract. Looking for definition of Consideration? 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 … after much consideration we decided to make an offer on the house. ( kənˌsɪdəˈreɪʃən) n. 1. the act or an instance of considering; deliberation; contemplation. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! These example sentences are selected automatically from various online news sources to reflect current usage of the word 'consideration.' A one sided promise which is not supported by consideration is a gift. 'Nip it in the butt' or 'Nip it in the bud'? Consideration is the value or benefit for … Consideration definition is - continuous and careful thought. Consideration Primary tabs. Definition Of Consideration. It must be of value to both parties entering into a transaction . Consideration is kindness and thoughtful regard for others, or an act of thoughtfulness. He said there should be careful consideration of the company's future role. account, advisement, debate, deliberation, reflection, Definition of consideration noun in Oxford Advanced Learner's Dictionary. Test your knowledge - and maybe learn something along the way. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. Consideration Primary tabs. 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”. 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. In the context of insurance, the insurance company gives the consideration of coverage for losses as long as premiums are paid. Consideration is kindness and thoughtful regard for others, or an act of thoughtfulness. Careful thought; deliberation: We will give your proposal consideration. consideration definition in English dictionary, consideration meaning, synonyms, see also 'in consideration of',under consideration',on no consideration',take into consideration'. 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. Meaning of consideration. b. The rule that‘consideration must move from the promisee’, means that detriment to the promisee will be present in nearly all cases and benefit to the promisor is often merely a by-product of this detriment, but either one is sufficient. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. Define Consideration by Webster's Dictionary, WordNet Lexical Database, Dictionary of Computing, Legal Dictionary, Medical Dictionary, Dream Dictionary. Synonyms for consideration. Is it your consideration that I should apply? A consideration is an exchange of money for the guarantee of an act preformed or another benefit provided. Common types of consideration include real or personal property, a return promise, some act, or a forbearance. Learn a new word every day. Treating others as you would have them treat you (the Golden Rule) is one example of consideration. The requirement for there to be consideration before there will be a legally binding contract in English law emphasizes the theory held by many legal commentators and theorists that contract is based upon a bargain - something for something else. The consideration must result from bargaining by the parties, and must be the thing that induces the mutual promises. 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 … Show consideration for other rail travellers. 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 “. After much consideration, I have decided to stay. Due consideration shall be given to any demonstrated hardship on the applicant by reason of denial, as presented at the public hearing. Mutual promises constitute consideration for each other. پاملرنه، تو جه، دقتو ملاحظه، انديښنه، كتنه، دليل، پاعث: اهميت: قضاوت ، نظريه. Consideration explanation. Ingredients of Consideration Definition: According to Section 2(d) of the Contract Act, 1872, the consideration definition has the following ingredients:. n. 1. a. Careful consideration should be given to issues of health and safety. Consideration may be cash in which case, it is more like a sale or payment-in-kind. b. Consideration explanation. Her ideas are worthy of serious consideration. Price has become a more important consideration for shoppers in choosing which store to visit than it was before the recession. A number of different features complicate this simple definition. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. He is always considerate to elderly people. Consideration must be of value (at least to the parties), and is exchanged for the performance or promise of performance by the other party (such performance itself is consideration). 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. The court in Currie v Misa declared consideration to be a “Right, Interest, Profit, Benefit, or Forbearance, Detriment, Loss, Responsibility”. This is the British English definition of consideration.View American English definition of consideration.. Change your default dictionary to American English. n. 1. a. 1). See more. 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. Definition - What does Consideration mean? What is Consideration? Consideration Money or other payment provided in exchange for an act or service that helps a business. Consideration or a valid substitute is required to have a contract. A consideration is something that should be thought about, especially when you are planning or deciding something. Consideration, in contract law, an inducement given to enter into a contract that is sufficient to render the promise enforceable in the courts. Consideration is a payment made by one party to another in exchange for the transfer of something of value. Good consideration of the kind denoted by sense 1 cannot create an enforceable contract. “Consideration.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/consideration. 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”. Definition. 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. What made you want to look up consideration? 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. For example, the promise to pay a debt that one is already obligated to pay is past consideration. Price was a major consideration in our choice of house. turned back in consideration of the worsening weather. UpCounsel accepts only the top 5 percent of lawyers to its site. Consideration may be given for preformance of an act or for not performing an act. Several examples of consideration are as follows: … Safety is the most important consideration in choosing a car. See take sth into consideration Legal definition for CONSIDERATION: (A) Contracts. Information and translations of consideration in the most comprehensive dictionary definitions resource on the web. [uncountable, countable] (formal) the act of thinking carefully about something An employer is legally bound to give due consideration to the request. "7 "Tlie consideration of a promise is the thing given or done by the promisee in exchange for the promise. Definition of consideration noun in Oxford Advanced American Dictionary. Consideration may be given for preformance of an act or for not performing an act. Dictionary ! | Meaning, pronunciation, translations and examples We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. Look it up now! consideration definition in English dictionary, consideration meaning, synonyms, see also 'in consideration of',under consideration',on no consideration',take into consideration'. Which of the following refers to thin, bending ice, or to the act of running over such ice. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. 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 … 5. Accessed 15 Jan. 2021. If only one party offers consideration, the agreement is a "bare promise" and is unenforceable. The law does not enforce gifts unless they are made by deed. Synonyms of consideration. Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content. consideration. Note: 2. take into consideration to bear in mind; consider. Careful thought; deliberation: We will give your proposal consideration. 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. Enrich your vocabulary with the English Definition dictionary 3. under consideration being currently discussed or deliberated. Consideration is a standout amongst the most essential components needed to frame an agreement and make it substantial according to law. At the desire of the promisor: It is the first element of consideration that it is the total privilege of promisor to fix the amount of consideration while forming a contract with another. Looking for definition of Consideration? a gift given in consideration of her hard work. 1) payment or money. Learn more. consideration meaning: 1. the act of thinking about something carefully: 2. a particular subject or fact that needs to be…. Send us feedback. Other factors must also be taken into consideration. Consideration definition: Consideration is careful thought about something. Consideration definition: Consideration is careful thought about something. But the wishes of Miss Magdalen Vanstone's eldest sister have claims on my, Solon seems not to have altered the established form of government, either with respect to the senate or the mode of electing their magistrates; but to have raised the people to great, But I have an interest in her, or I should rather say--no longer belonging to this place--I had, and if you can find so much, I have always thought love the only foundation of happiness in a married state, as it can only produce that high and tender friendship which should always be the cement of this union; and, in my opinion, all those marriages which are contracted from other motives are greatly criminal; they are a profanation of a most holy ceremony, and generally end in disquiet and misery: for surely we may call it a profanation to convert this most sacred institution into a wicked sacrifice to lust or avarice: and what better can be said of those matches to which men are induced merely by the, That's a great thing," Sergey Ivanovitch said to himself, feeling at the same time that this, The hardened shameless depravity of the whole composition, from beginning to end--the atrocious perversity of mind which persistently associated me with a calamity for which I was in no sense answerable, and with a death which I had risked my life in trying to avert--so disgusted me, that I was on the point of tearing the letter, when a, The Colonel reproached his daughter for her lack of filial kindness and respect, her want of sisterly affection and womanly, It is only to be lamented that any of her citizens should wish to deprive her of the additional merit of displaying its full efficacy in the establishment of the comprehensive system now under her. Delivered to your inbox! Something bargained for and received by a promisor from a promisee. In consideration of definition at Dictionary.com, a free online dictionary with pronunciation, synonyms and translation. Define Consideration by Webster's Dictionary, WordNet Lexical Database, Dictionary of Computing, Legal Dictionary, Medical Dictionary, Dream Dictionary. Definition and synonyms of consideration from the online English dictionary from Macmillan Education.. Enrich your vocabulary with the English Definition dictionary Menu. 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. Due consideration shall be given to the concepts of affirmative action. 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. 4. a fact or circumstance to be taken into account when making a judgment or decision.