For a contract to be enforceable, something of value must be exchanged. The thing of value exchanged is called

For a contract to be enforceable, something of value must be exchanged. The thing of value exchanged is called

• A. offer
• B. breach
• C. consideration
• D. acceptance

Answer: (C)

Consideration is the value exchanged between parties in a contract. It can be money, goods, services, or forbearance of a right, and it must be bargained-for—each party gives up something in exchange for what the other provides. This exchange is what makes an agreement enforceable, turning a mere promise into a contract rather than a gift. The other terms describe how a contract is formed (an offer and acceptance) or what happens if one side fails to perform (breach), but they aren’t the thing of value that creates enforceability.

Consideration is the value exchanged between parties in a contract. It can be money, goods, services, or forbearance of a right, and it must be bargained-for—each party gives up something in exchange for what the other provides. This exchange is what makes an agreement enforceable, turning a mere promise into a contract rather than a gift. The other terms describe how a contract is formed (an offer and acceptance) or what happens if one side fails to perform (breach), but they aren’t the thing of value that creates enforceability.