Algorithm and Consideration

noun

• A precise rule (or set of rules) specifying how to solve some problem.
  • synonyms: algorithmic rule, algorithmic program

• (n.) The art of calculating by nine figures and zero.
• (n.) The art of calculating with any species of notation; as, the algorithms of fractions, proportions, surds, etc.

Algorithm is a complex mathematical model. In credit scoring, it is used to compare data in millions of credit reports and predict a person's likelihood to repay debts.

noun

• The process of giving careful thought to something.
• Information that should be kept in mind when making a decision.
  • usage: "another consideration is the time it would take"
  • synonyms: circumstance, condition
• A discussion of a topic (as in a meeting. )
  • usage: "consideration of the traffic problem took more than an hour"
• Kind and considerate regard for others.
  • usage: "he showed no consideration for her feelings"
  • synonyms: considerateness, thoughtfulness
• A fee charged in advance to retain the services of someone.
  • synonyms: retainer
• A considerate and thoughtful act.
  • synonyms: thoughtfulness

• (n.) Thoughtful or sympathetic regard or notice.
• (n.) Claim to notice or regard; some degree of importance or consequence.
• (n.) The act or process of considering; continuous careful thought; examination; contemplation; deliberation; attention.
• (n.) That which is or should be, taken into account as a ground of opinion or action; motive; reason.
• (n.) The result of delibration or of attention and examonation; matured opinion; a reflection; as, considerations on the choice of a profession.
• (n.) Attentive respect; appreciative regard; -- used especially in diplomatic or stately correspondence.
• (n.) The cause which moves a contracting party to enter into an agreement; the material cause of a contract; the price of a stripulation; compensation; equivalent.

consideration is an act or the promise thereof, which is offered by one party to induce another to enter into a contract; that which is given in exchange for something from another; also the promise to refrain from doing a certain act, like filing a justifiable lawsuit (the forbearance of a right). Consideration, which distinguishes a contractual obligation from a gift, is usually something of value, such as the purchase price in and paid for a promise or it may be a return promise. Thus, the mere promise to pay money is sufficient consideration, so an earnest money deposit is not necessary for purposes of creating a binding contract.