The contractual requirement of consideration provides that
A) the offeror must pay cash for the offeree's promise to perform an act.
B) what is exchanged by the parties must be of equal value.
C) an offeree must pay cash for the offeror's promise to perform an act.
D) the contract must be given careful consideration before it is entered into.
E) each party must give something of value in exchange.

Question

Quizplus · Accepted Answer

The contractual requirement of consideration provides that each party must give something of value in exchange. This can include money, goods, services, or even a promise to perform a certain act. The value of the consideration exchanged does not need to be equal, but there must be some form of exchange between the parties for the contract to be enforceable.

The Contractual Requirement of Consideration Provides That