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They're on very shaky ground. You may have to pursue them civilly in small claims court but if both parties read and signed the contract, they should be bound to the quoted price. At the very least, a judge should find there was no meeting of the minds on the agreement and void the contract.
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Which statement about contracts is correct?
The correct statement about contract is that a contract is an agreement between a buyer and a seller. A contract can be a written or oral agreement.
Can a seller change their mind in real estate transaction?
The seller cannot change their mind once they have signed a contract unless there is some language in the contract that will allow them to back out of the sale. You need to review the terms of your purchase and sale agreement.
What are land grant contracts?
A land grant contract is an agreement between a buyer and seller to purchase real estate. The contract will specify terms and conditions and sometimes involve owner financing.
What is the seller's compensations if buyer does not keep his agreement to purchase real estate?
There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
How would one describe a land contract?
A land contract is a contract between seller and buyer of property. A contract is only made when an agreement between seller and buyer has been reached. The seller becomes the land owner only when the full payment has been made.
Can a purchase agreement be signed first by the seller ....Is this binding?
Yes, a seller can sign the agreement first, but it is not binding until all parties have signed and the signed copies have been delivered.
How do you break a new car contract?
You can't. If you signed then you have agreed to purchase the vehicle. Your only recourse is to talk to the seller and see if they will let you out of the deal. Offer to pay them to tear up the agreement.
What is the sellars compensation if they buyer doesnt keep agreement to purchase?
That would depend on the laws of the country in which you live and perhaps the wording of any contract between the seller and the buyer signed by both.
What is a seller pursuant?
Those words have been taken from a contract or agreement out of context. Examples of their use in contract language are as follows: The Buyer will pay one-half of the closing costs of the Seller pursuant to the agreement signed by the parties on 9/01/2008. The bank has no claims against Seller pursuant to the Note or otherwise.
What is the difference between sale agreement and agreement to sell?
An agreement to sell is just that. A promise if you will, that you will sell something to someone.A sales contract is far more important and far more legal. If for example you want to purchase a new car, this contract that you and the dealer fill out is called a Sales Contract, and both parties are bound by what this contract says.More Information:in a contract of sale:the title of the thing passes to the buyer upon the delivery of the thing soldnonpayment in a contract of sale is a negative resolutory conditionin a contract of sal, the seller has lost and cannot recover ownership of the thing until and unleess the contract is resolved or rescindedin a contract to sell:by agreement, the ownership of the thing is resrved in the seller and is not to pass to the buyer until the full payment of the pricefullpayment is a contract to sell is a positive suspensive conditionthe title of the thing remains in the seller, and when he seeks to eject the buyr because of noncompliance by such buyer with the suspensive condition stipulated, he is only enforcing the contract and not resolving the same
What are the features of a hire purchase system?
buyer and seller make written and legal agreement between them
What is contract of sale?
When the seller of goods transfers or agrees to transfers (agreement to sale) the general property (ownership) to the buyer for the price, then it is called "contract of sale".
