noun
consideration
Something of value given or promised in exchange for something else.
The buyer offers one dollar as consideration for the agreement.
Etymology
Latin considerare means “to examine or think over.” Consideration developed a sense of a reason or inducement; in contracts, it is what induces the other party’s promise by supplying something in return.
More examples
- Her promise to repair the fence serves as consideration.
- In consideration of your payment, we grant you permission to use the photograph.
- For a modest consideration, the owner lets us store equipment in his barn.
Forms
consideration · considerations
Similar words
- payment
- Usually money paid, rather than any valuable promise or exchange.
- compensation
- Emphasizes repayment for work, loss, or injury rather than exchange.