Chapter 10 – The Law of Contract

LESSON DESCRIPTION

Contract law is a very important concept when dealing with real estate transactions.  This includes agency contract, listing contracts, exclusive buyer’s agent contract, and the purchase and sale contract.  If these contracts are improperly executed.  We’ll discuss in detail:  void, illegal, voidable, and unenforceable contracts.

BEHIND THE SCENES TALKING POINTS

• What is “setting a precedent” also known as a “condition precedent”
• Termination of contract
• The doctrine of privity of contract
• Describe what a binding contract is and the requirement for writing
• Explain the remedies available for breach of contract
• The difference between a void contract and voidable contracts