Contracts
Consideration
A concise definition for the California Real Estate Exam study guide.
Definition
Bargained-for legal value supporting a promise. Need not equal market value. Adequacy and existence of consideration are different questions.
Why it matters on the California real estate exam
Know the definition, recognize how the term appears in a fact pattern, and compare it with related concepts before choosing an answer.
Study this topic in context
Read the related chapter for the surrounding concepts, examples, and exam tips.
Chapter 3: Contracts, Offers, Contingencies & Remedies →