- Of financial or market value; commanding or worth a good price; of considerable worth in any respect, whether monetary or intrinsic@ valuable considerationA class of consideration upon which a promise may be founded, which entitles the promisee to enforce his claim against an unwilling promisor. For contract, may consist either in some right, interest, profit, or benefit accruing to one party, or some forbearance, detriment, loss, or responsibility given, suffered, or undertaken by the other. Atherton v. Atherton, Mo.App., 480 S.W.2d 513, 518.A gain or loss to either party is not essential, it is sufficient if the party in whose favor the contract is made parts with a right which he might otherwise exert. Miller Ice Co. v. Crim, 299 Ill.App. 615, 20 N.E.2d 347.It need not be translatable into dollars and cents, but is sufficient if it consists of performance, or promise thereof, which promisor treats and considers of value to him. It is not essential that the person to whom the consideration moves should be benefited, provided the person from whom it moves is, in a legal sense, injured. The injury may consist of a compromise of a disputed claim or forbearance to exercise a legal right, the alteration in position being regarded as a detriment that forms a consideration independent of the actual value of the right forborne. Mutual promises in contract is sufficient.See also consideration@ valuable improvementsAs used in a statute relating to the specific performance of a parol contract for the purchase of real estate, improvements of such character as add permanent value to the freehold, and such as would not likely be made by one not claiming the right to the possession and enjoyment of the freehold estate. Improvements of a temporary and unsubstantial character will not amount to such part performance as, when accompanied by possession alone, will take the contract out of the operation of the statute of frauds. The valuable improvements may, however, be slight and of small value, provided they are substantial and permanent in their nature, beneficial to the freehold, and such as none but an owner would ordinarily make@ valuable papersThis term as used in statute requiring that a holographic will devising realty be found among the "valuable papers" of decedent, in order to be effective, refers to such papers as are regarded by the testator as worthy of preservation and therefore in his estimation of some value. Fransioli v. Podesta, 21 Tenn. App. 577, 113 S.W.2d 769, 773, 777.And does not refer only to papers having money value. Pulley v. Cartwright, 23 Tenn.App. 690, 137 S.W.2d 336, 340@
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.