Question: The promises exchanged by the parties to a contract, either to give up something of value they have a legal right to keep, such as

The promises exchanged by the parties to a contract, either to give up something of value they have a legal right to keep, such as money or property; to do something they are not otherwise legally required to do, such as performing a service; or to refrain from an action is known as:
Group of answer choices
consideration.
offer and acceptance.
mutual agreement.
competence of parties.

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