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Legally Sufficient Consideration
An element of contract law that requires something of value to be exchanged between the parties involved.
Consideration
Something of value (such as money, services, or goods) that is exchanged between parties in a contract, rendering the agreement legally binding.
Legally Sufficient Consideration
In contract law, it refers to something of value that is exchanged between the parties, supporting a binding agreement.
Forbearance
The act of refraining from exercising a legal right; an agreement between a lender and a borrower in which the lender agrees to temporarily cease requiring mortgage payments, to delay foreclosure, or to accept smaller payments than previously scheduled.
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