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The doctrine of consideration serves as a fundamental principle in contract law, requiring that something of value be exchanged between the parties involved in an agreement. It ensures that contracts are not merely based on gratuitous promises, but rather on mutual benefit and obligation. This requirement helps to distinguish enforceable contracts from informal agreements and provides a framework for evaluating the fairness and intent behind the parties' commitments. Ultimately, consideration reinforces the idea that both parties must contribute to the contract for it to be legally binding.

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