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?

Considerations

Explanation:

Considerations is defined as the promise that is being exchanged between the parties in contract as a promiser and promisee. Through this term, both the parties receive benefit from the value e.g.-money , property etc. Benefit bargains is the major cause for formation of such type of contract.

This contract is thus based on exchange of one consideration with the other consideration.

how many characteristics are used to describe living things?

explanation:

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