ContractsContract_essentialsEASY
Which of the following is considered valid consideration in a real estate purchase contract?
Correct Answer
C) The buyer's promise to pay the purchase price in exchange for the seller's promise to convey title
Valid consideration requires something of legal value exchanged between the parties. Mutual promises of performance constitute adequate legal consideration.
Answer Options
A
A promise of love and affectionB
A gift with no conditions attachedC
The buyer's promise to pay the purchase price in exchange for the seller's promise to convey titleD
Past consideration for a previously completed favorWhy This Is the Correct Answer
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Background Knowledge for Contracts
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contract_essentialscontractsconsiderationvalid_consideration
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