Consideration Law and Legal Definition

Consideration is “either a benefit to the maker of the promise or a detriment to, or obligation upon, the promise[e]. ("In Ohio, consideration is either a benefit to the promisor or a detriment to the promisee.") Consideration is defined as a benefit to the party promising, or a loss or detriment to the party to whom the promise is made. The consideration element of statute requires a quid pro quo between the parties of something of pecuniary value.” See United States v. Acierno, 579 F.3d 694, 700-701 (6th Cir. Ohio 2009)