A transaction that lacks a bargained-for exchange lacks an element of consideration.

Name: A transaction that lacks a bargained-for exchange lacks an element of consideration.
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Quizplus · Accepted Answer

Consideration is the exchange of something of value between the parties to a contract. In order for a contract to be enforceable, there must be a bargained-for exchange of consideration. Without this element, the transaction lacks legal enforceability.

A Transaction That Lacks a Bargained-For Exchange Lacks an Element