An Agreement Is Composed Of The Acceptance And Consideration

A promise to perform an act to which one is legally bound is not considered to be the counterpart of another promise. Consideration Consideration is a legal disadvantage suffered by the promise, which is demanded by the promiser in exchange for his promise. A valid contract requires a certain exchange of consideration. As a general rule, in a bilateral treaty, one promise is a valid counterpart to the other. In the case of a unilateral contract, the service agreed by the tenderer provides the necessary consideration and is also considered acceptance of the tender. . . .