Consideration is something of legal value that the parties to a contract bargain for and exchange as the "price" for the promise given

Question

Quizplus · Accepted Answer

Consideration is a fundamental element of a valid contract. It refers to something that has legal value and is exchanged as part of the bargain between the parties. The consideration can be in the form of money, goods, services, or anything else that has value. Without consideration, a contract is not enforceable.

Consideration Is Something of Legal Value That the Parties to a Contract