* A promise to do something: Like promising to pay for goods or services.
* A promise to refrain from doing something: Like agreeing not to sue someone.
* An actual act or performance: Like providing a service or delivering goods.
However, consideration itself doesn't have to be verbal or written. It can be communicated in any way that demonstrates a clear exchange of value.
Let's break down why "verbal consideration" is misleading:
* Consideration is about the *exchange* of value, not the form of communication: Whether it's spoken, written, or implied through actions, the key is that both parties give something of value to each other.
* Verbal promises can be legally binding: If a verbal promise constitutes a clear exchange of value, it can be considered legally binding consideration. For instance, if you verbally agree to pay someone $100 for their services, that promise itself can be valid consideration.
* "Verbal consideration" could be mistaken for "oral contract": A contract can be oral, meaning it's made through spoken words. But "verbal consideration" doesn't refer to the entire contract; it's just one aspect of it.
In summary:
* "Verbal consideration" is not a standard legal term.
* Consideration is about the exchange of value, regardless of how it's communicated.
* Verbal promises can be legally binding and constitute consideration, but the key is to demonstrate a clear exchange of value.
If you're unsure about the legality of a particular situation, it's always best to consult with a qualified legal professional.