In other words, if party a offers to do something for party b, and if party b accepts party a has given (orpromised to give) somethingvaluable in return (consideration), they have an enforceable legally valid and binding contract
A contract is enforceable if the courts can force the parties to abide by it.
The common law termconsideration is the least transparent and most controversial of the three essential elements. It is often money, but the term covers everything that is of value to the parties both parties provideconsideration for the other party.
For example part a may agree to covers everything that is of value to the parties. Both parties provide consideration for the other.
Sell a form consideration inexchance for party as million dollars= consideration party
Consideration may even be something as abstract as a reduction of free choice (for example a football player may be peid by a sports wearmanufactured not to wear a rival manufacturers products.
An important difference betwen civil law and common law is that in civil law jurisdiction, a promise does not need consideration in order to beenforceable.
In civil- law jurisdiction such as mexico, there must be an object of the contract ( or a cause of contract) i.e. the thing promised to be given or the act promised to be not performed thisis not exactly the some as common law consideration, which requires that both parties give something of value.
Una famosa fórmula es ofrecer + + aceptación examen = contratistas
En otraspalabras, si un partido se ofrece a hacer algo por la Parte B, y si b Parte acepta un partido ha dado (orpromised dar) algo valioso a cambio (examen), que tienen un contrato ejecutorio legalmenteválida y vinculante
Un contrato es exigible si los tribunales pueden obligar a las partes a cumplir con él.
La consideración de la ley término común es el menos transparente y más controvertido de...