Consideration is the:
A)process of two parties entering into a contract.
B)process of confirming the lack performance of an activity prohibited by law.
C)the price each party demands for agreeing to carry out his or her part of the contract.
D)change in the contract agreement when the party to whom the offer was made requests for change in terms.
E)process where a contract is converted to an written document to be enforceable by law.

Question

Quizplus · Accepted Answer

Consideration in contract law refers to the value (such as money, service, or goods) that each party agrees to exchange as part of a contract. It is what each party demands and receives as the price for agreeing to the contract terms.

Consideration Is The