Quentin questions whether there is consideration for his contract with Rainey to exchange his performance with the Saxophone Symphony for her payment of a certain amount. To constitute consideration,there must be
A)a payment.
B)a performance.
C)a bargained-for exchange.
D)serious thought underlying each party's intent to contract.

Question

Quizplus · Accepted Answer

Consideration requires a bargained-for exchange, meaning both parties must have agreed to give and receive something in exchange for the contract. In this case, Quentin and Rainey agreed that Quentin would perform with the Saxophone Symphony in exchange for her payment of a certain amount, fulfilling the requirement for consideration.

Quentin Questions Whether There Is Consideration for His Contract with Rainey