1. A promise by one party to a *contract that constitutes the price for buying a promise from the other party to the contract. A consideration is essential if a contract, other than a *deed, is to be valid. It usually consists of a promise to do or not to do some thing or to pay a sum of money.
2. The money value of a contract for the purchase or sale of securities on the London Stock Exchange, before commissions, charges, stamp duty, and any other expenses have been deducted.
