Understanding Consideration in Contract Law: The Importance of Tangible and Identifiable Exchanges

what does it mean that consideration must be tangible or identifiable?

it can’t be something vague (white v bluett)

In contract law, consideration refers to something of value that is offered or exchanged between parties in order to create a legally binding contract. Consideration can take a variety of forms, such as money, property, services, promises, or anything else that has a tangible or identifiable value.

When it is said that consideration must be tangible or identifiable, it means that the consideration exchanged between parties must be something that can be measured or quantified. It is important for consideration to be tangible or identifiable so that it is clear what each party is contributing to the contract, and to ensure that there is no confusion or disagreement over the terms of the contract.

For example, if one party agrees to provide a service to another party in exchange for a certain amount of money, the consideration is tangible because the service can be measured by its quality and quantity, and the money exchanged can be identified as a specific amount. On the other hand, if one party agrees to provide a “favor” to another party in exchange for something else, the consideration may not be tangible or identifiable, which could make it difficult to enforce the terms of the contract.

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