The requirement that consideration be bargained-for means that:

Question

Quizplus · Accepted Answer

Consideration in a contract must be bargained-for, meaning that each party must be inducing the other party to give something of value. In other words, the consideration must be the inducement for each party to make the agreement. This requirement is met when each party has given the other party something of value in exchange for what they are receiving. Therefore, option C is the correct answer. Option A is incorrect because consideration does not have to be exchanged simultaneously. Option B is incorrect because the values of the consideration can be greatly different. Option D is incorrect because both parties must agree on the consideration to be given by each party.

The Requirement That Consideration Be Bargained-For Means That