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What Is The Importance Of A Consideration In A Contract?

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Arthur Wright Profile
Arthur Wright answered
Somewhat important
Anonymous Profile
Anonymous answered
Consideration can be anything which has a value( monetory or non-monetory) according to the law. Without consideration the contract is incomplete.
Gina Watkins Profile
Gina Watkins , Consideration ia a vital element of any contract, answered
Without it, the contract is not legally binding.
What you give up in the deal for what you get out of the deal.
Sana Rashid Profile
Sana Rashid answered
Consideration or exchange of value is a very important part of a contract. Some people even say that there is no contract if there is no consideration.
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