Introduction:
Consideration is an essential element of a valid contract. It refers to the price paid by one party in exchange for the promise or performance of the other party. Consideration is not required to be equal in value, but it must have some value in the eyes of law.

Explanation:
Consideration must have some value in the eyes of law, meaning it must be something that the law recognizes as valuable. It can be in the form of money, property, services, or even a promise to do or refrain from doing something. However, the value of consideration need not be equal to the value of the promise or performance.

Consideration need not be sufficient, meaning it need not be equal in value to the promise or performance. For example, if A promises to sell a car to B for Rs. 1,000, and B accepts the offer, the consideration is Rs. 1,000 even if the car is worth Rs. 10,000. Similarly, if A promises to paint B's house, and B promises to pay A Rs. 500, the consideration is Rs. 500 even if the cost of painting the house is much higher.

However, consideration must have some value, meaning it must be more than a mere pretense or illusion. It must be real and tangible, and must be capable of being enforced by law. For example, if A promises to give B a painting, but the painting is a fake, there is no consideration as it has no value.

Conclusion:
In conclusion, consideration is an essential element of a valid contract, and it must have some value in the eyes of law. It need not be equal in value to the promise or performance, but it must be real and tangible. The value of consideration is determined by the law, and it must be capable of being enforced by law.