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26 July, 05:29

Which contract term refers to an exchange of value between parties?

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  1. 26 July, 05:30
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    Consideration is the contract term that refers to an exchange of value between parties. It is very important to write down the terms of a contract to avoid confusion. Consideration is one of the four elements, together with terms of the Contract, Capacity and Legality of a valid contract. It includes duties, sufficiency and adequacy and part payment of a debt.
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