Consideration Consideration is where there is a bargained for exchange and legal detriment, thus there wa hot consideration in exchange in bargain When Art said he would build the barn size 50' by 50' to be guarantee completed by January 1, 2005 and Art agreed, he then asked for a $10,500 in advance to purchase supplies (goods and any additional further payment made on completion. Here, there was a bargain for exchange and a legal detriment and the $10,500 and future payment was upon completion would be sufficient consideration that was bargain for in exchange of Art building Betty barn. Art will argue that the $10,500 dollars was advance to purchase supplies (goods) and that h had not received any money up front for his labor. There was a valid offer and an acceptance, which includes consideration for the offeree's promise or performance. Art started to purchase the lumber but did not because of the increase price of the lumber. However, Art did not purchase the supplies (goods) and there is no indication that the money was returned to Betty. Thus, there was consideration in exchange in bargain and valid consideration. Modification At common, a modification required additional consideration and the Statute of Fraud may need to be satisfied due to the modification