Question

A person sells a summer cottage appraised at $100,000 to a stranger for $50,000. The seller's family wants to challenge the validity of the sale contract. The most apparent weakness of the contract that they might be able to attack is the:____________.

Answer 1

insufficiency of the consideration exchanged for the property

Step-by-step explanation:

Insufficient consideration means that the value delivered to the party to contract is higher than the value the party to contract has paid. This means the transaction is not arms length transaction (based on fair value of the asset). So the apparent weakness in this case is insufficient consideration exchanged.