Giving up something that has value in return for an act or promise is:
A)Compromise
B)Consideration
C)Contract
D)Offer
E)Acceptance

Question

Quizplus · Accepted Answer

Giving up something of value in return for an act or promise is called consideration. It is an essential element of a contract, which is a legally binding agreement between two parties. A compromise involves both parties making concessions to reach a mutual agreement. An offer is a proposal made by one party to another. Acceptance is the agreement to the terms of an offer, which finalizes the contract. Therefore, the best choice is B, consideration.

Giving Up Something That Has Value in Return for an Act