Contracts
In Oregon, which of the following is considered 'consideration' in a real estate purchase contract?
AThe seller's good faith in accepting the offer
BThe buyer's payment of the purchase price in exchange for the seller's delivery of title✓ Correct
CThe broker's effort in marketing the property
DThe appraiser's valuation of the property
Explanation
Consideration in contract law is something of value exchanged by each party. In a real estate purchase contract, the buyer's consideration is the purchase price (money), and the seller's consideration is the conveyance of title/property.
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