Consideration would generally mean ‘compensation’ for doing or omitting to do any act or deed. It is also referred to as ‘quid pro quo’ means something in return for another thing. Such a consideration should be a lawful consideration. But, Reciprocal Promise means promise in return to promise as a consideration to former promise. Simply speaking, under Reciprocal Promise both parties promise each other to do something in the future. So, the first promise forms the consideration for the second promise and second promise forms the consideration for the first promise. So, both are reciprocal or opposite or against each other.
When, at the desire of the promisor, the promisee does something, does not to something or promises to do something; this act of the promise is called ‘consideration of the promise’.
These promises (that the promisee does to form the consideration) form an agreement.
Such promises that form an agreement are called reciprocal promises.