contracts......

In 1946 defendant gave plaintiff a note for $100,000 payable in 1950 for an option to purchase 10,000 shares of World Corporation for $1,000,000 at any time until 1949. At the time this agreement was made the market value of 10,000 shares of World Corporation was $500,000. In 1947 the World Corporation became insolvent and its stock became worthless. The note was not paid when it fell due in 1950 and plaintiff sued. Defense: The promise lacked consideration because the option was of no benefit to defendant in as much as the market value of the stock never exceeded $500,000. Decide and explain. In answering, explain what is meant by "consideration