Contract Law In Today’s Market

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Contracts are legally enforceable promises made by one person to another. In real estate, there are many different types of contracts, including contracts for sale, options, mortgages, leases, contracts for deed, escrow agreements, and loan commitments.
This course will cover all of them. The law provides remedies if a promise is breached or recognizes the performance of a promise as a duty.
You will learn:
• What is a contract and contract history
• Some mistakes in writing contracts
• How contracts are discharged
• Breach of a contract
Contracts are mainly governed by state statutory and common (judge-made) law and private law.

3-Hours Contract Law

Lessons

4 – In Writing – Contract Law In Today’s Market

Length: 9 minutesComplexity: Standard

🔊 Listen to Lesson The 5 Characteristics of Enforceable Contracts Consideration Both parties must give and receive consideration for a contract to be valid. If Jack signs a contract with Paula, agreeing to buy…The 5 Characteristics of Enforceable Contracts Consideration Both parties must give and receive consideration for a contract to be valid. If Jack […]

7 – Four Contract Categories – Contract Law In Today’s Market

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Four Contract Categories All real estate contracts fall into four specified contract categories. They can be: Valid, Void, Voidable, or Unenforceable Bilateral or Unilateral Express or Implied Executor or Executed…Four Contract Categories All real estate contracts fall into four specified contract categories. They can be: Valid, Void, Voidable, or Unenforceable Bilateral […]

8 – Bilateral or Unilateral, Estoppel – Contract Law In Today’s Market

Length: 9 minutesComplexity: Standard

🔊 Listen to Lesson Bilateral or Unilateral Contracts can be ‘bilateral’ or ‘unilateral’. In a bilateral contract, both parties are legally obligated to do something. For example, John promises to sell his home to…Bilateral or Unilateral Contracts can be ‘bilateral’ or ‘unilateral’. In a bilateral contract, both parties are legally obligated to do something. For […]

11- 12 of the Most Common Reasons – Contract Law In Today’s Market

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Contract Discharged If the contract parties have satisfied the requirements of the contract to the satisfaction of each other, a contract is said to be discharged. This is the ultimate…Contract Discharged If the contract parties have satisfied the requirements of the contract to the satisfaction of each other, a contract is […]

12 – Contract Discharge – Contract Law In Today’s Market

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson 4. Objective Impossibility of Performance A contract may be discharged if, after it is made, performance becomes objectively impossible. For instance, a property is destroyed by an earthquake or some…4. Objective Impossibility of Performance A contract may be discharged if, after it is made, performance becomes objectively impossible. For instance, a […]

15 – Breach of Contract – Contract Law In Today’s Market

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson When one party fails to honor his or her part of a contract, there is a breach of contract. A breach occurs whenever one party: Makes it impossible for the…When one party fails to honor his or her part of a contract, there is a breach of contract. A breach occurs […]

16 – Four Remedies Included – Contract Law In Today’s Market

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson Remedies The usual remedy for breach of contract is the payment of money which compensates for injury or damages. Four remedies include: Liquidated Damages Damages Rescission Specific Performance 1. Liquidated…Remedies The usual remedy for breach of contract is the payment of money which compensates for injury or damages. Four remedies include: […]

19 – Avoiding Disputes and Liability – Contract Law In Today’s Market

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson A significant number of disputes could be avoided if those involved in a real estate transaction would consistently adhere to the basic principles of contract law. Obviously, reducing disputes between…A significant number of disputes could be avoided if those involved in a real estate transaction would consistently adhere to the basic […]

20 – Due Diligence – Contract Law In Today’s Market

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson More than just a home inspection. Most buyers and their agents understand the importance of a home inspection to discover physical defects in a property. However, there are other due…More than just a home inspection. Most buyers and their agents understand the importance of a home inspection to discover physical defects […]

21 – Lessons from an Up-Market – Contract Law In Today’s Market

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson Can I Cancel My Contract? Lessons from an Up-Market As a trial attorney specializing in real estate litigation, I have been inundated in what I refer to as my “up-market…Can I Cancel My Contract? Lessons from an Up-Market As a trial attorney specializing in real estate litigation, I have been inundated […]

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