Which of the following would NOT constitute legal consideration for a contract?

Legal consideration is a fundamental element of a valid contract, typically defined as something of value that is exchanged between the parties involved. For a consideration to be valid, it must be something that is legally recognized as a benefit or detriment exchanged as part of the contractual agreement.

A gift, which is what is indicated by the correct choice, does not constitute legal consideration. This is because a gift is given voluntarily without any expectation of receiving anything in return. In contrast, the other options listed involve a form of exchange, whether it be a settlement of a legal claim, a significant monetary amount for goods, or forbearance to do a legal act. Each of these examples involves a reciprocal arrangement, which is essential for creating a binding contract.

When a person gives a gift, they are not receiving anything in return, which means there is no mutual exchange of value. This lack of reciprocity is what disqualifies it from being legal consideration. Consequently, while other options demonstrate a valid exchange that supports the formation of a contract, the provision of a gift does not meet this requirement, confirming that it does not form the basis of legal consideration in contract law.