Definition of "Consideration"
Stephanie Herbert, Real Estate Agent
RE/MAX Action
(1) Anything of value given to induce a person or entity into entering a contract. It may be money, personal services, or the trading of property. A valid contract requires adequate consideration. (2) The amount actually received form the sale of securities of a real estate company after deducting all the expenses including taxes on the sale and commission to the broker from the gross receipts
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