What is a requirement for consideration to be established in a contract?

For consideration to be established in a contract, it is essential that it aligns with public policy. Consideration refers to something of value that is exchanged between the parties involved in a contract. This exchange must not only hold value but must also comply with the law and broader societal principles.

When consideration aligns with public policy, it ensures that the transaction does not contravene legal norms or ethical standards upheld by society. For instance, if a contract's consideration involves illegal activities or violates fundamental public principles, the contract could be deemed unenforceable.

While having at least two parties engaged in the contract is critical for the formation of a contract, the requirement of consideration being grounded in public policy is a more direct and crucial condition for its validity. Similarly, subjective values and legal restrictions also play roles, but they do not capture the essential requirement of public policy alignment in determining the validity of consideration in a contract.