Is it true money has to change hands to make a Model or Property Release a legally binding contract?
There is some dispute over whether money needs to change hands to make the contract valid. Some people believe that a minimum token sum of at least $1 needs to be paid to the “model”. Others believe a “valuable consideration” can be given by the photographer in a non-monetary form – such as copies of the photographs. Still, others believe no exchange of value is needed at all.
