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Quid pro quo, or the exchange of valuable consideration, is required for the formation of a valid contract between individuals who are not merchants. This requirement of mutual consideration, or the exchange of something of value, indicates the sincerity of the parties' intent to adhere to the contract between them.
Russia has used its position as leader of the non-OPEC coalition to strike upstream deals with OPEC members as a possible quid pro quo for spearheadin... Rig Count Bounces Up as Permit Counts Drop Again. According to the RigData Locations & Operators Report, the U.S rig count bounced up to 948 rigs (+18).