Consideration must have a value that is recognised by the law.

Question

Quizplus · Accepted Answer

According to the principle of consideration in contract law, consideration must have some value or benefit that is recognised by the law. In other words, there must be a real and tangible benefit that one party is receiving in exchange for their promise or performance under the contract. Therefore, consideration must have some legal value in order to be enforceable in a court of law.

Consideration Must Have a Value That Is Recognised by the Law