Consideration is the element of a contract that:
A) allows it to be a gift
B) prevents it from being a gift
C) gives the offeror a better deal
D) gives the offeree a better deal
E) provides the terms of contract execution

Question

Quizplus · Accepted Answer

Consideration is what distinguishes a contract from a gift. In order for a contract to exist, there must be an exchange of something of value between the parties involved. If one party is giving something without receiving anything in return, it is considered a gift and not a contract. Therefore, consideration prevents a contract from being a gift.

Consideration Is the Element of a Contract That