Page "Consideration in English law" Paragraph 0

Consideration in English law is one of the three main building blocks of a contract.

Consideration can be anything of value ( such as an item or service ), which each party to a legally binding contract must agree to exchange if the contract is to be valid.

If only one party offers consideration, the agreement is not legally a binding contract.

In its traditional form, consideration is expressed as the requirement that in order for parties to be able to enforce a promise, they must have given something for it ( quid pro quo ): something must be given or promised in exchange or return for the promise.

A contract must be " met with " or " supported by " consideration to be enforceable ; also, only a person who has provided consideration can enforce a contract.

In other words, if an arrangement consists of a promise which is not supported by consideration, then the arrangement is not a legally enforceable contract.

Mutual promises constitute consideration for each other.

(" I promise you to do X, in consideration for which promise you promise me to do Y ").