Bargain is an agreement between parties for the exchange of promises or performances. A bargain is not necessarily a contract because the consideration may be insufficient or the transaction may be illegal. It is narrower than an agreement as it is not applicable to all agreements and broader than ‘contract’ since it includes a promise given in exchange for insufficient consideration. It also covers transactions which the law refuses to recognize as contracts because of illegality.
It also refers to something offered or acquired at a price advantageous to the buyer.