Examlex
Provide a brief explanation of social exchange theory. Using this theory, discuss the costs and rewards of a relationship you have had (past or present).
Bargained-For Exchange
A mutual agreement between parties in which each promises to give something in exchange for a benefit.
Consideration
In contract law, consideration refers to something of value, which can be an object, service, money, or promise, exchanged between parties as the basis for a contract.
Bilateral Contract
An agreement between two parties in which each party commits to performing a specific obligation.
Consideration
In a contractual agreement, it is the value or promise that each party agrees to exchange.
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