Contracts
In Arizona, consideration in a real estate contract must be:
AMoney only
BSomething of legal value given by each party (not necessarily money)✓ Correct
CAt least 1% of the purchase price
DApproved by the ADRE
Explanation
Consideration must be something of legal value exchanged by each party. In a real estate sale, the seller's consideration is the deed/property and the buyer's is the purchase price. Consideration need not be money.
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