What is the equivalent for "Consideration" (English common law) in Spanish speaking countries?

Question

Consideration is a concept of English common law and is a necessity for simple contracts.

Consideration may be thought of as the concept of value offered and accepted by people or organisations entering into contracts. Anything of value promised by one party to the other when making a contract can be treated as "consideration": for example, if A signs a contract to buy a car from B for $5,000, A's consideration is the $5,000, and B's consideration is the car.

Translating into "Consideración" just does not work at all, there must be a concept to explain the same in Latin-American Countries. For instance, how do you call this in Mexico, Argentina, Chile, Peru, Bolivia, Colombia, etc.? Or in Spain?

Any hint is very welcome.

Answer 1

What is the equivalent for “Consideration” (English common law) in Spanish speaking countries?

Prestación.

Perhaps not all Spanish speaking countries adopt a one-word term, but the notion of consideration definitely exists in civil law. It is quite mistaken to presume that the concept is unique to common law systems.

The Civil Code of both Spain (see art. 1257) and México (art. 1793) are in terms of "transmission or transfer of rights", which fits the meaning of consideration.

The Civil Code of Spain in its art. 1254 refers to "[consent] to give something or perform [prestar] a service" (brackets added for clarity), whence the term prestación qualifies as consideration in several --if not all-- types of contract. In fact, article 1274 literally mentions "prestación or promise".

Answer 2

_{Consideration is a concept of English common law and is a necessity for simple contracts.}

_{Consideration may be thought of as the concept of value offered and accepted by people or organisations entering into contracts. Anything of value promised by one party to the other when making a contract can be treated as "consideration": for example, if A signs a contract to buy a car from B for $5,000, A's consideration is the $5,000, and B's consideration is the car.}

_{Translating into "Consideración" just does not work at all, there must be a concept to explain the same in Latin-American Countries. For instance, how do you call this in Mexico, Argentina, Chile, Peru, Bolivia, Colombia, etc.? Or in Spain?}

_{Any hint is very welcome.}

spain

There is no required tradition to be followed (in line with this).
In a negocio of oneroso and lucrativo nature, if you still want to make it both fancier and clearer, it's explicitly enough to write about the bienes y/o derechos controvertidos.

In your example, B's car is all of the bienes controvertidos de parte de B en el negocio.

With regards to a, whenever used, contraprestación pecuniaria, either A aporta 5.000,00 dólares PAÍS en concepto de bienes controvertidos (for cash in hand, wire transfer, etc.) or A transmite un derecho de cobro de 5.000,00 dólares PAÍS en concepto de bienes controvertidos (in case of broader credit).

En virtud del presente contrato, you can add to it if you want.

Answer 3

There isn’t one

Common law contract law requires this, civil law contract law doesn’t.