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What are the remedies of buyers and sellers in a contract of sale?
there are two general remedies to an unpaid seller which include; Real remedies and Personal remedies.
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.
If buyer changes mind on home purchase which does not fall within the contract what remedies does the seller have regarding the signed contract?
The seller is interested in selling the property and not getting into a legal battle over breach of contract. Keep the deposit and move on to the next buyer.
What are the four rights of a buyer in a contract for sale?
In a contract for sale, a buyer typically has four key rights: the right to receive the goods as specified in the contract, the right to inspect the goods before accepting them, the right to demand that the seller fulfill their obligations as outlined in the agreement, and the right to seek remedies if the seller breaches the contract. These rights ensure that buyers are protected and can hold sellers accountable for their commitments.
If buyer requests a release from contract can seller choose to enforce the contract?
A contract, if properly drafted, is enforceable. If the buyer requests a release the seller can negotiate or keep the deposit.
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.
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.
What happens if Seller dies after signing contract?
If a seller dies after signing a contract then the contract is terminated. In the case of real estate the property may go to the state, a bank, or the trustee of the will.
How much interest can a seller charge on land contract?
A seller can charge whatever interest they wish on a land contract. The buyer doesn't have to sign a contract if they don't agree with the terms.
If a seller in contract agrees to pay all taxes until sale can they make buyer pay taxes instead?
No. The seller must honor the contract.
Once a contract is signed can the dealer increase the price and void your original contract?
If you have both signed the contract and it is legally valid, then NO, the seller cannot change the terms of the contract or unilaterally void the contract (unless the contract states that the seller is allowed to do this). If you are in doubt, you need to talk to a lawyer ASAP.
What are aedilition remedies?
Actio redhibitorithese are remedies applies which come by when a contract of sale has been breached action that privide totall restoration Ex redhibitoria this remedy the merx is rendered useles ,the seller has to refund the buyerbuyer returns the total useless goods and is refunded neccessitates that goodsare ruturn sometinesis not possible.ex quansi minoris
