Areas of Law-Consideration
Consideration is a very elusive, but important concept. An easy way to think of it is as the tit for tat, the quid pro quo or, to put it another way, it is simply the meat of the agreement. If there is no consideration, then there is no contract. Going back to the example of the house painting, if Joe wrote you a letter offering to paint your house, but never stated when he would finish it or what compensation he expected and you simply wrote back saying that those terms were agreeable, that would probably not be a contract because there is no consideration stated.
Typically the performance of a preexisting legal duty cannot serve as consideration for a contract. For instance, if you are already under a duty to perform a certain act and you then promise to do it as the consideration for a contract, that consideration is insufficient.
Forbearance to do a certain act may serve as consideration.
Example: If Connie agrees not to sue you for payment of $100, then that is sufficient consideration to make a contract enforceable. That forbearance serves as a legal detriment and therefore is sufficient consideration.
