Consideration means there must be an exchange between parties in a contract through bargaining. The thing bargained for can include promises, benefits, or detriments. For a contract to be supported by consideration, the bargaining must cause both parties to either give a benefit or suffer a detriment. Courts generally do not evaluate the adequacy of consideration as long as something of value was exchanged. Exceptions apply for preexisting duties, liquidated debts, and modifications to sales of goods contracts.

1. Consideration CHAPTER 12

5. There is consideration to support a contract between A and B, when they bargain... and their bargaining causes BOTH parties ... … to either give a benefit to the other or to suffer a detriment themselves. Which causes... A to give B a benefit OR A to suffer a detriment AND AND AND AND B to give A a benefit OR B to suffer a detriment Consideration supports a contract! Bargain A B

12. “ The law does not hold us accountable for every promise we make. The doctrine of consideration determines which promises a court must enforce.”