Consideration: Canada Debt .ca defines Consideration

Bankruptcy Term Consideration

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Canada Debt has the definition to the bankruptcy and debt term Consideration. Finding answers to terms such as Consideration can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Consideration in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Consideration' is used as follows:

Under common-law, one of the three criteria that have to be met before a contract is binding. Refers to money or payment of money or some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other.