The value that each party gives to the other in a contract is called

Contribution generally refers to the act of providing something, often in the context of shared expenses or resources. While it may involve giving value, it does not specifically denote the mutual exchange that is necessary for a contract, making it an inadequate term in this context.

Subrogation is a legal concept that allows one party to step into the shoes of another to claim their rights, often seen in insurance contexts. While it involves transfer of rights or claims, it does not pertain to the mutual exchange of value in a contract between parties, thereby making it irrelevant to this question.

Valuation refers to the process of determining the worth or price of something, but it does not encompass the mutual exchange of value that occurs in a contractual setting. Valuation is more about assessing value rather than the actual exchange of consideration between parties, rendering it an incorrect choice here.