Contracts
Which of the following is true about a Missouri real estate contract that lacks consideration?
AIt is voidable by either party
BIt is void and unenforceable✓ Correct
CIt is valid if notarized
DIt is enforceable if in writing
Explanation
Consideration is an essential element of a contract. A contract lacking consideration is void (not merely voidable) and has no legal effect.
Related Missouri Contracts Questions
- Under Missouri law, an offer to purchase can be revoked by the buyer:
- Which of the following is an example of a unilateral contract in Missouri real estate?
- In Missouri, an offer to purchase a property for $250,000 is valid only if it contains all of the following EXCEPT:
- In Missouri, a purchase contract's appraisal contingency protects the buyer by:
- In Missouri, a seller refuses to complete a sale after accepting the buyer's offer. The buyer's best legal remedy is typically:
- An assignment of a Missouri real estate contract means:
- In Missouri, a contract that lacks a legal purpose is:
- What does 'time is of the essence' mean in a Missouri real estate contract?
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →