Contracts
In Hawaii, which of the following is a valid form of real estate contract consideration?
AA. Love and affection only
BB. A promise to perform combined with money✓ Correct
CC. A past act already performed
DD. A conditional promise with no current value
Explanation
Valid consideration includes money, promises to perform, and other things of value. A promise combined with money is clearly adequate consideration for a real estate contract.
Related Hawaii Contracts Questions
- What is 'novation versus assignment' in Hawaii real estate contracts and when is each used?
- What is a 'due diligence period' in a Hawaii commercial real estate transaction?
- What is a 'land installment contract' (contract for deed) and how might it be used in Hawaii?
- What is a 'Seller Property Disclosure Statement' (SPDS) in Hawaii?
- What is a 'lead-based paint disclosure addendum' and when is it required in Hawaii contracts?
- What is an 'assignment' of a contract in Hawaii real estate and is it always permitted?
- In Hawaii, what is the legal effect of a 'unilateral mistake' in a real estate contract?
- What is 'interpleader' and when would a Hawaii escrow company use it?
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →