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welcome to another video my names Susan and you can see me on the right with a group of students and on the left you can see the other teacher at Cambridge lost you do her name is Natalie and shes with the same group of students and we offer a three week legal English courses at Girton College in Cambridge and if youd like to know more please visit the website now today were going to continue with commercial contract vocabulary and its the letter C the three words for today are consideration construe and contemplated by so consideration is one of the four elements essential for the formation of a contract under British law the other elements are acceptance offer and intention to create legal relations consideration is what the parties exchange under the contract each party provides consideration and it will be something of value although not necessarily financial value so it could be money goods or service shares or a promise to do or not to do something and heres an example of