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High Quality Content by WIKIPEDIA articles! Quid pro quo (From the Latin meaning "something for something") indicates a more-or-less equal exchange or substitution of goods or services. English speakers often use the term to mean "a favor for a favor" and the phrases with almost identical meaning include: "what for what," "give and take," "tit for tat", "this for that", and "you scratch my back, and I'll scratch yours". In legal usage, quid pro quo indicates that an item or a service has been traded in return for something of value, usually when the propriety or equity of the transaction is in question. For example, under the common law (except in Scotland), a binding contract must involve consideration: that is, the exchange of something of value for something else of economic value.