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2. Real estate contract - Wikipedia

   en.wikipedia.org/wiki/Real_estate_contract

   A typical real estate contract specifies a date by which the closing must occur. The closing is the event in which the money (or other consideration) for the real estate is paid for and title (ownership) of the real estate is conveyed from the seller(s) to the buyer(s). The conveyance is done by the seller(s) signing a deed for buyer(s) or ...

3. Consideration under American law - Wikipedia

   en.wikipedia.org/wiki/Consideration_under...

   Thus whether $1.00 is consideration does not depend on the benefit received but whether the $1.00 had actually been bargained for. In some [clarification needed] jurisdictions, contracts calling for such nominal or "peppercorn" consideration will be upheld unless a particular contract is deemed unconscionable.

4. 72-hour clause - Wikipedia

   en.wikipedia.org/wiki/72-hour_clause

   A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...

5. How do real estate agent fees and commissions work? - AOL

   www.aol.com/finance/real-estate-agent-fees...

   How to avoid paying Realtor fees. Selling your home without the help of a real estate agent — called “for sale by owner” or FSBO for short — is certainly possible. Between July 2022 and ...

6. Peppercorn (law) - Wikipedia

   en.wikipedia.org/wiki/Peppercorn_(law)

   The situation is different under contracts within civil law jurisdictions because such nominal consideration can be categorised as a disguised gift. [4] The remainder of this section is a U.S. perception, not English. However, courts will not generally inquire into the adequacy or relative value of the consideration provided by each party. [5]

7. Consideration in English law - Wikipedia

   en.wikipedia.org/wiki/Consideration_in_English_law

   Consideration is an English common law concept within the law of contract, and is a necessity for simple contracts (but not for special contracts by deed).The concept of consideration has been adopted by other common law jurisdictions, including in the United States.

8. Pre-existing duty rule - Wikipedia

   en.wikipedia.org/wiki/Pre-existing_duty_rule

   If contractual parties owe each other existing contractual obligations but a third party offers a promise contingent upon performance of the contract, that promise has sufficient consideration. In the US, under the Uniform Commercial Code, modifications may be made free of the Common Law legal duty rule even without consideration provided that ...

9. Gift (law) - Wikipedia

   en.wikipedia.org/wiki/Gift_(law)

   However, the said Act has been abolished and from FY 2004–05, a new provision was inserted in the Income Tax Act (1961) under section 56 (2) which provides that if the gift is received by an individual or Hindu undivided family from any relatives or blood relatives or at the time of marriage or as inheritance or in contemplation of death, it ...