What are the two types of sufficient consideration in a contract?

In the context of contract law, sufficient consideration primarily falls into two categories: valuable consideration and good consideration. Valuable consideration refers to something of measurable value exchanged in a contract, such as money, services, or goods. This is crucial because it ensures that both parties benefit from the agreement, reinforcing the contract's validity and enforceability.

Good consideration, on the other hand, involves intangible benefits, such as love, affection, or moral obligation, which may not have a definitive monetary value but still hold significance in the context of personal relationships or informal agreements.

The other choices misrepresent types of consideration in contracts. Legal and illegal doesn't pertain to consideration specifically, while written and verbal refer to forms of communication rather than the essence of what is exchanged in a contract. Financial and non-financial describe the nature of the benefits but do not encompass the broader legal framework of consideration's definition. Thus, valuable and good are the recognized categories within contract law that clarify the requirements for consideration to be deemed sufficient.