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this post was submitted on 06 Dec 2023
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Yes, payment isn't necessary, it's just that consideration is payment 99% of the time for the average Joe, to the point where the first definition of consideration is "payment or money" but there are certainly contracts out there where it isn't money.
You’re right. I only wanted to include the search term for anyone wanting to pursue this on their own. I think it is better to search the proper term and build knowledge from there than to summarize it and hope laymen understand the underlying principles.