ABSTRACT
In this chapter, we look at another key component which the judiciary look for in contracts – consideration. The doctrine is fundamental to the classical model, which expects every contract to involve an exchange which comes about as a result of striking a bargain. It is the mechanism through which the judiciary have sought to distinguish between gifts and legally enforceable exchanges. A lot of what has been written about the doctrine of consideration makes it seem as though it is a very complex notion. In fact the key concept behind it is very simple. If you want to enforce a contract, you must give something to the other party and receive something in return.
