Which statement describes sufficient consideration?

• A. Only things with market value
• B. Anything with monetary value
• C. Anything which has value in law
• D. Anything which is recognized by law as having some value

Answer: (D)

In contract law, consideration must have some value in the eyes of the law. It does not need to be market value or a sum of money; it only has to be something the law recognizes as having value and that is exchanged for the promise. This means that even a very small or non-monetary concession can count, as long as the law treats it as giving value—often illustrated by the “peppercorn” idea that a trivial amount can be sufficient.

The correct statement captures this by saying the value must be recognized by law as having some value. That framing allows for a wide range of forms of consideration, including promises to perform, forbearance, or goods and services, not just monetary or market-valued items. The other options are too restrictive because they tie consideration strictly to market or monetary value, which isn’t required for sufficiency.