A contract is an agreement between two or more parties to do or not to do something. Consideration is the exchange promised in the contract. In a real estate purchase contract, it is usually an exchange of promises. The buyer promises to “purchase and pay” if the seller will “sell and convey” title and possession of the property. This course discusses Contracts and Consideration, administrative tasks, discharge of contracts, negotiations and tactics, basics of quality negotiations, laws affecting negotiations, Oklahoma Real Estate Code, Oklahoma Real Estate Commission Rules, comparative advantage, legal consideration and principled negotiations.