Contracts
A Pennsylvania real estate contract that lacks consideration is:
AVoidable at the option of either party if one party objects promptly
BVoid — unenforceable because consideration is a required element of contract formation✓ Correct
CEnforceable if both parties signed the document voluntarily
DValid but subject to PREC review and approval before the closing date
Explanation
Consideration — something of legal value exchanged between the parties — is a required element of a valid contract. A contract without consideration is void (not merely voidable) and unenforceable in Pennsylvania courts. In a real estate contract, the consideration is the purchase price paid by the buyer in exchange for the property transferred by the seller. Contracts lacking consideration cannot be enforced by either party regardless of signatures.
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