›[C or U]LAWin a contract, something with financial value that is given in exchange for something else, for example, a bank loan that is made in exchange for the borrower's promise to repay it: From the wording of the agreement it was clear that the initial payment was part of the consideration.A lack of consideration is one reason why a promise to do something may not be recognized as legally binding by a court of law.
›[C]formalan amount of money as payment for a service: He agreed to do the job for a small consideration.