A contractual stipulation defining the amount and timing of payments due for a specified level of coverage under an insurance policy. Different types of consideration clauses may be used in other industries (such as real estate and stock option transactions) regarding compensation or remuneration payable under the terms of a contract.
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If the consideration clause is itself a part of the contract, and not merely a receipt, the general rule as to the inadmissibility of evidence to vary or contradict a ...