What is Valuable Consideration?

Legal Definition
A benefit conferred or a detriment incurred by a party in exchange for another's promise. Valuable consideration may be non-monetary as long as it is of some value to one or both parties. Also called good and valuable consideration and legal consideration.
Illustrative caselaw
See, e.g. Digital Equipment Corp. v. Desktop Direct, Inc., 511 U.S. 863 (1994).
See also
  • Consideration
  • Contract
Legal Definition
Contracts. An equivalent for a thing purchased. Vide Vin. Ab. Consideration, B; 2 Bl. Com. 297; Consideration.
-- Bouviers Law Dictionary
Legal Definition
The distinction between a good and a valuable consideration is that the former consists of blood, or of natural love and affection; as when a man grants an estate to a near relation from motives of generosity, prudence, and natural duty; and the latter consists of such a consideration as money, marriage which is to follow, or the like, which the law esteems an equivuient given for the grant. 2 Bl. Comm. 297. A valuable consideration is a thing of value parted with, or a new obligation assumed, at the time of obtaining a thing, which is a substantial compensation for that which ls obtained thereby. It ls also called simply "value." Civ. Code Dak. § 212L
-- Black's Law Dictionary
Legal Definition
Something of actual value capable in estimation of law of pecuniary measurement, the parting with money or money’s worth, or an actual change of the purchaser’s legal position. See 2 L. R. A. 530, note.
-- Ballentine's Law Dictionary