What are the 4 types of consideration?

The four types of consideration in contract law are:

1. Monetary Consideration: This involves a payment or exchange of money for goods or services.
2. Service Consideration: This refers to the performance of a service in exchange for something of value.
3. Bargained-for Exchange: This occurs when parties agree to exchange something of value, which can include promises or actions.
4. Detrimental Reliance: This arises when one party relies on a promise made by another, leading to a disadvantage if the promise is not fulfilled.