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What else can I help you with?
What is an enforceable contract?
Enforceble contract is a contract which is done with the acceptance with both parties
What is executed contract?
A case where obligations by both the parties has been done
What does the word competency mean when used regarding the parties to a contract?
able to complete what is to be done
Difference between executed and executing contracts?
An executed contract is a contract that has been completed. All parties have signed and its all done and closed. Executory is one that is almost done, but they are waiting on for example: Money!
What is a rescission hearing?
A court meeting designed to determine if a contract can be undone with all parties returning to their original status and, if so, how that will be done.
If after a contract has been signed and agreed upon for buying a home can the seller back out of the deal?
Yes they can if it is done in accordance with the terms of the contract. If it is done in breach of the contract, the seller can actually have legal action taking against them. Not always Unless the buyer agrees, the contract remains enforceable, and a court can order the sale to proceed.
Nil actum reputans si quid superesset agendum?
Nothing has been done if something remains to be done
Distinguish between a specialty contract and a simple contract?
The difference between a simple and specialty contract that a simple contract can be done orally, or in writing. A specialty contract must be signed by the parties and must have a seal attached.
Can you void a contract in real estate if it is not dated correctly?
It depends on the nature of the error. If the contract states that something must be done by a certain date and the wrong date was written in you might have a problem. If the date the contract was signed was written incorrectly that may not be so serious. You must have the contract reviewed by your attorney.It depends on the nature of the error. If the contract states that something must be done by a certain date and the wrong date was written in you might have a problem. If the date the contract was signed was written incorrectly that may not be so serious. You must have the contract reviewed by your attorney.It depends on the nature of the error. If the contract states that something must be done by a certain date and the wrong date was written in you might have a problem. If the date the contract was signed was written incorrectly that may not be so serious. You must have the contract reviewed by your attorney.It depends on the nature of the error. If the contract states that something must be done by a certain date and the wrong date was written in you might have a problem. If the date the contract was signed was written incorrectly that may not be so serious. You must have the contract reviewed by your attorney.
What is the difference between a void contract and a voidable contract?
A contract that is void means technically that there never was a contract. There are few times when this remedy is available including if there was a mistake, the contract was entered into under duress, or that the contract was never properly formed. A contract that is 'voidable' is when there has been a misrepresentation or a mistake that allows the innocent party to decide whether the contract will be affirmed, or 'rescinded'. Rescinding a contract has the same effect as if it were void (puts the parties back to where they were as if the contract had never been formed), but the key differences are that it is a choice whether to rescind or affirm and then sue for damages for expectation. Also, rescission is not available in some particular situations: where there are third parties involed, when the contract has already been affirmed, when it is impossible to put the parties back to where they were before the contract was formed, or where the rescission was not done in a reasonable time.
What is the defect of a voidable contracts?
A void contract is one that is no longer enforceable for some reason, such as it has expired or the parties have cancelled it. A voidable contract is one where one or both of the parties could walk away from the contract without further obligation, but has not done so.
What is legal impossibility?
It is something that cannot be done because of the law or reality. In some cases a change in law may make it impossible to fulfill a contract.
