Final answer:
In business, exchanges that constitute consideration include payment of money, transfer of property, providing goods or services, and performing an action or refraining from an action.
Step-by-step explanation:
In business, there are several types of exchanges that constitute consideration. Consideration refers to something of value that is given in exchange for a promise or performance.
Some examples of exchanges that constitute consideration include:
- Payment of money
- Transfer of property
- Providing goods or services
- Performing an action or refraining from an action
These exchanges create a legally binding contract between parties, where each party receives something of value in return for their promise or action.