Podcast
Questions and Answers
Specific performance: Court orders breaching party to ______ contract as agreed.
Specific performance: Court orders breaching party to ______ contract as agreed.
perform
Specific performance not always ______.
Specific performance not always ______.
granted
Court may decide damages are adequate ______.
Court may decide damages are adequate ______.
compensation
Generally, specific performance awarded only if subject of contract is ______.
Generally, specific performance awarded only if subject of contract is ______.
Signup and view all the answers
Court may be willing to grant specific performance to real estate ______.
Court may be willing to grant specific performance to real estate ______.
Signup and view all the answers
Tender: Unconditional offer by one of the parties to ______ as agreed.
Tender: Unconditional offer by one of the parties to ______ as agreed.
Signup and view all the answers
Before party can sue for breach of contract, non-breaching party must show he is ready to carry out his side of bargain (deliver deed or fund ______).
Before party can sue for breach of contract, non-breaching party must show he is ready to carry out his side of bargain (deliver deed or fund ______).
Signup and view all the answers
Summary Remedies for Breach of Contract: Rescission Compensatory damages Liquidated damages Specific performance ______.
Summary Remedies for Breach of Contract: Rescission Compensatory damages Liquidated damages Specific performance ______.
Signup and view all the answers
Specific performance: Court orders breaching party to ______ contract as agreed.
Specific performance: Court orders breaching party to ______ contract as agreed.
Signup and view all the answers
Specific performance not always ______.
Specific performance not always ______.
Signup and view all the answers
_____: When someone uses position of trust or authority to pressure victim into contract.
_____: When someone uses position of trust or authority to pressure victim into contract.
Signup and view all the answers
Duress: Compelling someone to do something against their will, using ____, constraint, or threats.
Duress: Compelling someone to do something against their will, using ____, constraint, or threats.
Signup and view all the answers
Contract’s purpose (and consideration exchanged) must be lawful or contract is ____.
Contract’s purpose (and consideration exchanged) must be lawful or contract is ____.
Signup and view all the answers
Consideration: Something of value exchanged by contracting parties. Money, property, services, or promise to do something (or not do it). In typical real estate sale: seller’s promise to convey title, buyer’s promise to pay agreed ____.
Consideration: Something of value exchanged by contracting parties. Money, property, services, or promise to do something (or not do it). In typical real estate sale: seller’s promise to convey title, buyer’s promise to pay agreed ____.
Signup and view all the answers
Statute of frauds: State law that requires certain types of contracts to be in writing, and ____.
Statute of frauds: State law that requires certain types of contracts to be in writing, and ____.
Signup and view all the answers
Counteroffer is a rejection of the original offer and a tender of a new offer, also known as qualified ______.
Counteroffer is a rejection of the original offer and a tender of a new offer, also known as qualified ______.
Signup and view all the answers
Acceptance must be freely given, and a contract can be voidable if consent resulted from fraud, undue influence, or ______.
Acceptance must be freely given, and a contract can be voidable if consent resulted from fraud, undue influence, or ______.
Signup and view all the answers
______ fraud involves a person making a misrepresentation knowing that the statement was false.
______ fraud involves a person making a misrepresentation knowing that the statement was false.
Signup and view all the answers
Fraud can be committed not only by making false statements but also by ______ a material fact.
Fraud can be committed not only by making false statements but also by ______ a material fact.
Signup and view all the answers
To commit constructive fraud, a person in a position of trust unintentionally misleads someone due to their ______ knowledge.
To commit constructive fraud, a person in a position of trust unintentionally misleads someone due to their ______ knowledge.
Signup and view all the answers
A minor may be emancipated by: marriage, military service, or court order. If one party has been declared mentally incompetent, the contract is ______.
A minor may be emancipated by: marriage, military service, or court order. If one party has been declared mentally incompetent, the contract is ______.
Signup and view all the answers
Aliens may enter into contracts to transfer property, subject to withholding requirements. Incarcerated persons may also contract to buy or sell property, subject to ______ limitations.
Aliens may enter into contracts to transfer property, subject to withholding requirements. Incarcerated persons may also contract to buy or sell property, subject to ______ limitations.
Signup and view all the answers
Mutual consent is achieved through offer and acceptance. Offeror makes offer to offeree. If offeree accepts offer, contract is ______.
Mutual consent is achieved through offer and acceptance. Offeror makes offer to offeree. If offeree accepts offer, contract is ______.
Signup and view all the answers
Mutual consent is sometimes called mutual assent, mutuality, or meeting of the minds. Mutual consent is achieved through offer and acceptance: Offeror makes offer to offeree. If offeree accepts offer, contract is ______.
Mutual consent is sometimes called mutual assent, mutuality, or meeting of the minds. Mutual consent is achieved through offer and acceptance: Offeror makes offer to offeree. If offeree accepts offer, contract is ______.
Signup and view all the answers
Before a party can sue for breach of contract, the non-breaching party must show they are ready to carry out their side of the bargain (deliver deed or fund). Court may decide damages are adequate ______.
Before a party can sue for breach of contract, the non-breaching party must show they are ready to carry out their side of the bargain (deliver deed or fund). Court may decide damages are adequate ______.
Signup and view all the answers
