Contracts
Consideration for an option contract in Nebraska must be:
AAt least 5% of the property's value
BSomething of value (even nominal), paid by the optionee to keep the offer open✓ Correct
CEqual to one month's rent for residential options
DPaid through the listing broker
Explanation
Option consideration can be nominal (even $1) as long as it is actual consideration — the payment makes the option contract binding and keeps the seller's offer open for the option period.
Related Nebraska Contracts Questions
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