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12 Cards in this Set
- Front
- Back
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What does the statute of fraud's relate to in real estate? |
Contracts for the sale of land or any interest in land must be in writing in order to be enforceable |
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What is the purpose of the statute of fraud is? |
To provide reliable evidence of the existence in terms of a contract |
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Oral contracts for the sale of land are___Because of___? |
Unenforceable because of statute of frogs |
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Who must sign a contract for the purchase of real estate |
Person to be charged |
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Hey contract in which the agreement and terms are stated by both parties is___and When the consideration is an exchange of promises, it is also__. |
Express; bilateral |
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A contract which lacks one or more of the essential elements of a contract is? |
Void |
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When an offer changes his or her mind and notifies the offeree before the offer is excepted, this terminates the offer by? |
Revocation |
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The elements of either fraud or misrepresentation our a miss statementof a__with__and__. |
Material fact, reliance by the other party, resulting damages |
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The substitution of a new contract for an old contract which discharges all obligations under the old contract is called? |
Accord and satisfaction |
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One situation that always terminates an offer but which is only an excuse for non-performance of a contract of sale went specifically stated in the terms of the contract is |
Death of one of the parties |
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P least an apartment 2L under an oral lease. Which lease agreement is enforceable |
A lease for eight months starting in four months |
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Sarah offer to purchase states that it will be kept open three days for acceptance. One day after making the offer and before acceptance Sarah wants to withdraw it. The real estate agent should inform Sarah that |
The offer may be withdrawn without penalty |
