Consideration is
A)the price that is paid for the promise of another.
B)a special kind of gratuitous promise.
C)the acceptance of an offer.
D)the offer that is made to another.
E)a special kind of acceptance.

Question

Quizplus · Accepted Answer

Consideration refers to the price that is paid for the promise of another. It is an essential element for a contract to be valid. It can be money, property, services, or anything else of value that is bargained for and exchanged between the parties. Therefore, option A is the correct choice.

Consideration Is