Of America and Other Good and Valuable Considerations, the Receipt Whereof is Hereby Acknowledged, Form
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People also ask
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What does receipt of which is hereby acknowledged mean?
It means that the individual or party to a contract is acknowledging that they either got something of value, or gave up something of value, or both, in order to form a valid contract.
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What does "other good and valuable considerations" mean?
The phrase "and other good and valuable consideration" is often included in contracts to indicate that there is additional consideration beyond what is explicitly stated in the contract.
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What does "and other good and valuable considerations" mean?
The phrase "and other good and valuable consideration" is often included in contracts to indicate that there is additional consideration beyond what is explicitly stated in the contract.
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What is the ten dollars and other good and valuable consideration?
The ten dollars is the "peppercorn" that provides concrete consideration and ensures that the contract is valid, while the actual amount paid for the house is hidden and referred to only as the "other good and valuable consideration".
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What can be considered valuable consideration?
Valuable consideration broadly refers to a sufficient price paid by a party in exchange for something in a contract or sale. The “valuable” description of consideration also may mean that the consideration is monetary in contrast to other payment such as services or agreeing to forbear legal remedies.
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What does valuable consideration refer to in a real estate transaction?
Valuable consideration broadly refers to a sufficient price paid by a party in exchange for something in a contract or sale. The “valuable” description of consideration also may mean that the consideration is monetary in contrast to other payment such as services or agreeing to forbear legal remedies.
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What does consideration mean on quit claim deed?
The consideration is the value that the buyer transfers to the seller. Simply put, and in most cases, the consideration reflects how much (or the dollar amount) the buyer spent to purchase the item.
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What is $10 and other good and valuable consideration?
The ten dollars is the "peppercorn" that provides concrete consideration and ensures that the contract is valid, while the actual amount paid for the house is hidden and referred to only as the "other good and valuable consideration".
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