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Consideration Essay A valid contract must consist of an offer and acceptance. Where there is an offer and acceptance there is agreement, however this is not enforceable as a contract unless other essential elements are present. One of these elements is consideration. Consideration turns an agreement into a bargain where both parties are providing something. Consideration can be the exchange of a promise, the delivery of goods or payment of money. However the consideration is not present if only one of the parties to the contract make a promise, both parties must be providing something. Sarah has asked Laura to look after her house while she is abroad for three months. Laura is a police officer that lives on her street. In return for Laura keeping an eye on her house she has offered to pay her £100 when she gets home. However when Sarah did return she was very short...

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