Broker A conveys an offer from his client to Broker B wherein A's client wishes to purchase a 300-acre farm by giving B's client $100,000, 2 year-old tractors and 50 head of Black Angus cattle. What would the consideration offered by A's client be called?

Question

Business

Hana Roberson

12 October, 12:56

Broker A conveys an offer from his client to Broker B wherein A's client wishes to purchase a 300-acre farm by giving B's client $100,000, 2 year-old tractors and 50 head of Black Angus cattle. What would the consideration offered by A's client be called?

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Answers (2)

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Katelynn Gibbs · Answer 1

In contract law, consideration is the benefit that the parties bargain, usually refers to the payment of money or something of value.

In this case, the consideration offered by broker A's client would include the $100,000, the year old tractors and the 50 Black Angus cattle.

Carrot · Answer 2

Valuable consideration offer

Explanation:

A valuable consideration is defined as a benefit or detriment incurred by one party at the expense of a promise of another party.

Valuable consideration can be monetary or non-monetary depending on the contract between both parties, and as long as it is of benefit to both parties.

In the case of the above question, the contract entails a monetary benefit for one party and material benefit for the other.

Cheers.