The bargained-for exchange between the contract parties is known as ________.

Question

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Consideration is the exchange of something of value between the parties to a contract. It can be money, goods, services, or a promise to do something. It is a necessary element for a contract to be legally enforceable. Compensation refers to payment for services or work done, co-optation refers to the process of adding someone to a group or organization, and confirmation refers to the act of verifying or validating something.

The Bargained-For Exchange Between the Contract Parties Is Known as ________