Ask for Consideration
Consideration is something of value given by both parties in a contract that compels them to enter into the agreement to exchange mutual performances. It’s basically a promise for a promise.
For instance say you go into a restaurant and place your order. You are making an agreement/promise to pay for the meal. The restaurant is making an agreement/promise to serve you a meal. Promise for a promise.
You would expect the meal to be a certain level of quality. Hot food hot, salads fresh etc. If you ordered a bowl of hot soup that was served cold, they basically broke the promise and some additional consideration would be needed to make up for breaking the promise.
They should of course bring you a bowl of hot soup. However, it would be expected that some additional consideration would be needed in order to make good on the agreement. It could be something such as no charge for the soup, a free desert, or a discount coupon for a future meal.
Consideration is simply the thing of value each side offers as part of their side of fulfilling the agreement. If the consideration is not sufficient to fulfill the promise, then additional consideration is needed to balance out the promise.
See you next week!
Eldonna Lewis Fernandez, MSgt USAF Retired