Contracts
A Massachusetts homeowner wants to convey their property to their child for $1. The deed is valid even with nominal consideration because:
AConsideration must always equal market value
BConsideration need only be legally sufficient (something of value), not equal to market value✓ Correct
CFamily transfers require no consideration
DGifts of real estate are treated differently from sales
Explanation
Under contract law, consideration need only be legally sufficient—some form of value, even nominal ($1)—not necessarily equal to the property's market value. The $1 'consideration' satisfies the legal requirement even though it understates the property's true value.
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