Asked by Julia Herbst on Jun 03, 2024
Verified
With respect to consideration, a bargained-for exchange refers to the location, such as a stock exchange, where the contracting parties negotiated their deal.
Bargained-for Exchange
An element of a contract where both parties exchange something of value.
Stock Exchange
A marketplace where securities, such as stocks and bonds, are bought and sold.
Consideration
In contract law, it refers to something of value exchanged between parties as part of an agreement.
- Understand the concept and significance of consideration in contract law.
Verified Answer
PM
Prabh ManesJun 03, 2024
Final Answer :
False
Explanation :
A bargained-for exchange refers to the concept in contract law where something of value is exchanged between the parties as part of the agreement, not to a physical location where the deal is negotiated.
Learning Objectives
- Understand the concept and significance of consideration in contract law.