The payment exchanged for the promise(s)stated in a contract is called the

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Consideration is the payment or exchange of something of value between two parties in a contract. It is what each party gives or receives in exchange for the promises outlined in the agreement. Acceptance is the agreement to the terms of the contract, compensation refers to payment for services rendered, and offer is the proposal or promise made by one party to another. Therefore, B is the correct answer as it is specifically related to the payment or exchange of value in a contract.

The Payment Exchanged for the Promise(s)stated in a Contract Is