CONSIDERATION IN A CONTRACT Every party in a contract must give something valuable that attracts the other party to a contract, this valuable something is known la420doctor as consideration. In a contract, consideration is exchanged with another consideration. The contract may be termed as unenforceable due to the failure of the consideration. Consideration is as a result of either a promise to do something or a promise not to do something. A contract is deemed to be legally binding. Consideration is the.