Legal Definitions - good consideration

Definition: Good consideration is something that is bargained for and received by a promisor from a promisee. It can be an act, a forbearance, or a return promise that motivates a person to engage in a legal act. Consideration is necessary for an agreement to be enforceable.

Example: If John promises to pay Jane $100 in exchange for her painting his house, the $100 is the good consideration. It is something that John has promised to give Jane in exchange for her painting his house.

Explanation: In this example, John's promise to pay Jane $100 is the consideration that motivates Jane to paint his house. Without this promise, Jane would not have agreed to paint John's house. The consideration is what makes the agreement enforceable.