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부동산

Real Estate Law 30

2019.05.07 21:49 Views : 108

Check Your Understanding Answers

  1. List the six elements required of a valid contract.

    Competent parties, consideration, mutual agreement, lawful objective, in writing and signed by the parties, contain a legal description
     
  2. Define consideration.

    Consideration is the exchange of promisesoffered by one party to another to do or not do something.
     
  3. If deliberate deception, fraud, or false information is present, the agreement is what?

    Not enforceable
     
  4. What are the two commonly used legal descriptions in a contract?

    Metes and bounds
    Reference to a platted subdivision (lot, block, section, and subdivision name)
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