CONSIDERATION. An act or forbear ance, or the promise thereof, which is offer ed by one party to an agreement, and accept ed by the other as an inducement to that other'A act or promise. Poll. Contr, 91.
Blackstone defines it to be the reason which moves a contracting party to enter into a contract (2 Com. 443) ; Burgher v. IL Co., 139 Mo. App. 62, 120 S. W. 673; but this definition is manifestly defective because it is within the distinction taken by Patteson, J., who says : "It is not to be confounded with motive, which is not the same thing as consideration. The latter means something which is of value in the eye of the law, mov ing from the plaintiff, either of benefit to the plaintiff or of detriment to the defend ant ;" Langd. Sel. Cas. Contr. 168; s. c. 2 Q. B. 851. In distinguishing between con sideration and motive a helpful criterion is to be found in the expression "nothing is consideration that is not regarded as such by both parties ;" Philpot v. Gruninger, 14 Wall. (U. S.) 570, 577, 20 L. Ed. 743; Ellis v. Clark, 110 Mass. 389, 14 Am. Rep. 609; Sterne v. Bank, 79 Ind. 549, 551.
The price, motive, or matter of inducement to a contract,—whether it be the compensa. tion which is paid, or the inconvenience which is suffered by the party from whom it proceeds. A compensation or equivalent. A cause or occasion meritorious, requiring mutual recompense in deed or In law. Viler, Abr. Consideration (A).
Consideration, in a contract, is the quid pro quo that the party to whom the promise is made does or agrees to do in exchange for the contract. Phoenix Mut. Life Ins. Co. v. Raddin, 120 U. S. 197, 7 Sup. Ct. 500, 30 L. Ed. 644. See also Pollock, Contracts (1902 Ed.).
It is also defined as "any act of the, plaintiff from which the defendant or a stranger derives a benefit or advantage, or any labor, detriment, or inconven ience sustained by the plaintiff, however small, if such act is performed or inconvenience suffered by the plaintiff by the consent, express or implied, of the defendant." Tindal, C. J., in 3 Scott 250. Ac cording to Kent it must be given in exchange, mu tual, an inducement to the contract, lawful, and of sufficient value, with respect to the assumption.
2 Corn. 464.
"The name consideration appeared only about the 16th century, and we do not know by what steps it became a settled term of art." Pollock Contr. 170. That it was not borrowed from equity as a modifi cation of the Roman Law causa, see CAUSA.
Concurrent considerations are those which arise at the same time or where the prom ises are simultaneous and reciprocal.
Continuing considerations are those which consist of acts which must necessarily con tinue over a considerable period of time.
Executed considerations are acts done or values given at the time of making the contract. Leake, Contr. 18, 612.
Exedutory considerations are promises to do or give something at a future day. Ma Good considerations are those of blood, natural love or affection, and the like.
Motives of natural duty, generosity, and prudence come under this class ; 2 Bla. Com. 297; Batty Carswell, 2 Johns. (N. Y.) 52; Ewing v. Ewing, 2 Leigh (Va.) 337; Carpenter v. Dodge, 20 Vt. 595; 1 C. & P. 401; Doran v. McConlogue, 150 Pa. 98, 24 Atl. 357 ; Mascolo v. Montesanto, 61 50, 23 Atl. 714, 29 Am. St. Rep. 170. The only purpose for which a good consideration may be effectual is to support a covenant to stand seized to uses, in favor of wife, child or blood relation. It is goad against a grantor when it has been executed ; Chit ty, Contr. 28; so of a gift; Candee v. Savings Bank, 81 Conn. 372, 71 Ati. 551, 22 L. R. A. (N. S.) 568; but may be void against creditors and subse quent bona fide purchasers for.value; Stat. 27 Elm. o. 4; 10 B. & C. 606; Patterson v. Mills, 69 Ia. 755, 28 N. W. 63; Shep. Touchst. 612; Leake Contr. 442. The term is sometimes used in the sense of a consideration valid in point of law ; and it then in cludes a valuable as well as a meritorious consid eration; Hodgson v. Butts, 3 Cra. (U. S.) 140, 2 L. Ed. 391; Lang v. Johnson, 24 N. H. 302; 2 Madd. 430; 3 Co. 81; Ambl. 598. Generally, however, good is used in antithesis to valuable.