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Sagot :
The element of a bargained for exchange or consideration is one means to distinguish contracts from gifts. Thus, the statement is true.
What is a contract?
A contract is an agreement between parties that establishes legal duties for both parties. The fundamental components necessary for the agreement to be legally enforced are - mutual assent, valid offer and acceptance, adequate consideration.
An agreement between two parties must have been a bargained exchange in order to be considered a contract. This happens when each side offers a promise or performance (consideration) in exchange for a promise or performance in return from the other side.
Therefore, a bargained exchange helps to differentiate between a contract and gift.
To learn more about contract, click here:
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Your question is incomplete, but most probably the full question was,
True and False - the element of a bargained for exchange or consideration is one means to distinguish contracts from gifts
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