Consideration Is the Value Given in Return for a Promise

question 4

True/False

Consideration is the value given in return for a promise or in return or a performance.

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Definitions:

Real Estate Agent

A licensed professional who represents buyers or sellers in real estate transactions.

Property Appraised

The process of determining the market value of a property, usually conducted by a professional appraiser, based on its condition, location, and characteristics.

Sale Contract

A legal agreement between a seller and a buyer specifying the terms and conditions for the sale of goods or property.

Rescind

To revoke, cancel, or repeal a contract, offer, or agreement.