Common · Knowledge

compensation

Legal term

Legal term or legal concept

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Machine-translated from the German article

In a bilateral contract, the consideration (Gegenleistung) is the performance that one party promises in return for the performance it receives from the other party. Except in barter contracts or comparable constructions, the consideration always consists of a monetary payment, also called a fee or remuneration, which is settled by payment. The monetary consideration is set against the performance based on the legal ground, the causa, which in turn is typified by the respective type of contract.

Text: German Wikipedia, machine translation, CC BY-SA 4.0. ·

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