Take (something) into consideration definition is - to think about (something) before one makes a decision or forms an opinion. Intermediate and Advanced level grammar practice with progress tests. 3 Simply stating that you should be considered for something is worthless without explaining why. A valid contract must include consideration for every party involved. 3) The refraining from an action that one has a legal right to undertake (called a forbearance Consideration must be something of value in the eyes of the law - (Thomas v Thomas) (1842) 2 QB 851. provide security was binding. In simple terms, consideration is the basic reason a party enters into a legal contract. A legally binding contract needs three main elements: an offer, consideration, and acceptance. The carrying out of a specific act. b. There are a few requirements an agreement has to meet in order to be considered valid from a legal standpoint. Thus, consideration is a promise of something of value given by a promissor in exchange for something of value given by a promisee; and typically the thing of value is goods, money, or an act. Payment, in any form, under a contract; any value given at the counterparty’s request can be good consideration, including any action, inaction, or a promise. It does not state how much consideration must be there. Consideration is an essential element for the formation of a contract. n. 1. Consideration is kindness and thoughtful regard for others, or an act of thoughtfulness. Consideration is an English common law concept within the law of contract, and is a necessity for simple contracts (but not for special contracts by deed).The concept of consideration has been adopted by other common law jurisdictions, including the US.. Rules for Consideration. Let’s look at some examples: Example 1 – Doing something in consideration of synonyms, in consideration of pronunciation, in consideration of translation, English dictionary definition of in consideration of. It may consist of a promise to perform a desired act or a promise to refrain from doing an act that one is legally entitled to do. Careful thought; deliberation: We will give your proposal consideration. tion (kən-sĭd′ə-rā′shən) n. 1. a. How to use take (something) into consideration in a sentence. Consideration requires (i) a bargain regarding terms of an exchange, (ii) a mutual exchange between the parties (i.e. Related Content. It must be of value to both parties entering into a transaction . One of the main components is called “consideration.” It’s the simple idea that you can’t get something for nothing (or at least that you don’t need a contract for it). 4 n-count A consideration is something that should be thought about, especially when you are planning or deciding something. (‘cause and consideration: a study paralled, Markesinis (1978) 37 cambridge lane journal 53) Forbearing to sue someone can be consideration if the action was honestly thought to be valuable. In the legal system, the term consideration in contract law refers to something of value given to someone in return for goods, services, or some other promise. In consideration of definition at Dictionary.com, a free online dictionary with pronunciation, synonyms and translation. This ‘something in return’ need not necessarily be equal in value with “something given”. The doctrine of consideration is based upon the idea that a promisee must give or promise to give something in return for the promise or unless the promisor has obtained or been promised something in return. : The most important basic consideration for shades and blinds is proper measuring of the window. Consideration meaning in law. 2. By not suing, however, the bank. Conversely, agreeing to do something that is otherwise legally required, is not adequate consideration to a contract. Definition and synonyms of in consideration of something from the online English dictionary from Macmillan Education.. Forbearance to act, such as an adult promising to refrain from smoking, is enforceable only if one is thereby surrendering a legal right. This is the British English definition of in consideration of something.View American English definition of in consideration of something.. Change your default dictionary to American English. enforce the debt, but this was not done here. had shown forbearance and this was valid consideration, so the agreement to. consideration must be "something of legally sufficient value" and may consist of the following: 1) A promise to do something that one has no prior legal duty to do. Vocabulary exercises help you to learn synonyms, collocations and idioms. A consideration does not have to be money. 2) The performance of an action that one is otherwise not obligated to undertake. Consideration is something in return. Legal consideration is something of value which is structured into a legal contract. Does something (in the past, present or future) OR; Abstains from doing something (in the past, present or future) Then, this act of doing or abstinence is called Consideration. Thomas v Thomas ) ( 1842 ) 2 QB 851 a free online dictionary pronunciation. 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