52) A promise lacks consideration if a person promises to perform an act or do something he is already under an obligation to do. This is called a(n) ________. 52) A) illusory promise B) preexisting duty C) illegal consideration D) gift promise 53) Dean Campenella is a detective with the California state police.
What about first-time home buyers or those with little to no equity? In today's market, it is prohibitive even for the most frugal of first-time home buyers to come up with a traditional down payment. Houses that sell for $200,000 would require a down payment of $20,000 to $40,000, but there are options. Let's look at some of them.
âA turnkey package would be offered in return for a down payment and a share of the profits.â âThis money helps first-time home buyers - people with very little income or with limited income - to get down payments to get into houses.â âMy down payment was my first month's pay cheque.â âThe goal is two-fold: to increase her retirement savings and to increase savings for a down payment on a home.â âOn June 13, the People's Bank of China issued a circular, saying commercial banks should limit lending to real estate developers, beef-up credit management and increase down payments to be paid by buyers of second or luxury homes.â