What does Legal Consideration mean? Read on to discover the definition & meaning of the term Legal Consideration - to help you better understand the language used in insurance policies.
Legal consideration refers to the exchange of two or more things of value in a legally binding contract. Usually, money is exchanged for some type of goods or services in a contract. In the context of insurance, legal consideration usually involves an insurance company providing an insurance policy in exchange for money from the policyholder.
We hope the you have a better understanding of the meaning of Legal Consideration.