Re: Consideration - Question for the experienced - Posted by Stacy (AZ)
Posted by Stacy (AZ) on July 26, 2001 at 11:55:26:
I’ll assume you meant a sales contract. You may want to read the following article regarding consideration and earnest money.
If the contract stated “$10 or other valuable consideration”, you may be OK. If it specifically stated you would put down $10 for earnest money, and you didn’t, your seller is probably correct. I’ve had my title guy tell me, “Stacy, you need to get me your earnest money check, because without it we don’t have a valid contract”.
(not a lawyer)