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13 Cards in this Set
- Front
- Back
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A plat map survey is aka: |
lot block system. G1090.3 |
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In the plat map/lot block system (LBS), what is required for a legal description? |
a) subdivision name (unique to county) b) lot number c) county d) state e) elevation (sometimes)-measured from sea level. G1090.3 |
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Valid contracts are meetings of the ______ |
mind. G1100.1 |
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True or false: a valid contract is ALWAYS enforceable: |
false. A contract could be voided from condition in contract. G1100.1 |
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Name 5 requirements of a legal contract: |
a) competant parties b) mutual consent c) valuable consideration d) legal purpose e) voluntary act of good faith G1100.1 |
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A competant party is: |
a) of legal age b) mentally competant c) has authority to sign G1100.1 |
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What is "valuable consideration"? |
good, valuable, sufficient. G1100.1 |
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Good faith: |
voluntary act. Not good faith: duress, coercion, fraud, misrepresenation. G1100.1 |
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What can a party do if the other party has committed fraud? |
a) ignore the fraud b) deny contract and sue if they choose G1100.2 |
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List 3 things needed for transfer of real estate: |
a) written conveyance b) legal descripiton c) grantor's signature G1100.2 |
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Statute of fraud: |
law to prevent fraud. Sometimes court can only consider the contract as evidence. G1100.2 |
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Unenforceable contracts can be: |
a) valid b) thrown out by a court |
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You sign a contract. Later you find out the other party was underage. Is the contract still valid? |
Yes. G1100.2 |
