Definition of Consideration

Definition of Consideration. Consideration in contract law, is an inducement given to enter into a contract that is sufficient to render the promise enforceable in the courts. The most comprehensive and most applied definition of consideration, is that of Lush, J., in Currie V. Misa (1875) L.R.10 Exch.153 at p.162.“…a valuable consideration in the eye… Continue reading Definition of Consideration