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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 114029
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I understand consideration to be a fundamental concept in jurisprudence

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I understand consideration to be a fundamental concept in jurisprudence and that for a contract to be valid, both parties need to give and receive consideration.

However, it seems to me that issues rarely arise regarding consideration. Granted, perhaps, most people will not sign most contracts without getting something in return, but is seems to me that I have seen many agreements signed in which arguably one party receives no consideration, particularly contract amendments, amendments to employment agreements, and NDAs. What is going on here? Sloppy drafting?

BTW, is it “Legal Consideration”, “Consideration”, "legal consideration", or "consideration?"
Consideration is defined as something of value that each person derives from the contract. Actually, the argument of consideration is frequently disputed in contract disputes, especially in unilateral contracts (where only one party seems to gain anything from the contract). Consideration though does not mean money, it can be any advantage or anything that the other party may want from the other party in the contract. The terms you listed under "BTW" are all the same term.

Each contract is examined on its own to determine what benefit each party to the contract gets out of the contractual agreement to determine the sufficiency of consideration. Sometimes consideration is not very obvious, but it is still there.

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Customer: replied 5 years ago.
"Consideration though does not mean money" -- agreed.

But are you stating that consideration can be read into a "contract?"
Yes, consideration can be interpreted or read into a contract by a court. For example, in a non-compete agreement, consideration for signing can be employment or continued employment even if it is not spelled out in the contract.
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