Valuable Consideration Law and Legal Definition
Valuable consideration refers to a consideration that is valid under the law. It is a consideration that either confers a pecuniarly measurable benefit on one party or imposes a pecunarily measurable detriment on the other. Something of value is given or promised by one party for the promise of another. Valuable consideration can include money, work, performance, assets, a promise, or abstaining from an act.
Valuable consideration is a necessary element of a contract which confers a benefit on the other party. Contracts and courts generally use the term valuable consideration to signify consideration sufficient to sustain an enforceable agreement. For example, in a contract for the sale of goods the money paid is the valuable consideration for the vendor, and the property sold is the consideration for the purchaser.
