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Real Estate

Real Estate Law 34

admin 2019.05.08 14:02 Views : 53362

Check Your Understanding Answers

  1. In terms of validity and enforceability, a court may construe the legal status of a contract in one of four ways. What are the four ways?

    Valid, valid but enforceable, void, voidable
     
  2. Real estate contracts aren’t enforceable unless the parties have exchanged something of value. This value is called what?

    Consideration
     
  3. A voidable contract is one which initially appears to be valid, but is subject to what?

    Cancellation by a party to the contract who is believed to have acted under some kind of disability
     
  4. Explain the Doctrine of Laches.

    The Doctrine of Laches states that a court has determined a contract is unenforceable due to needless delay or neglect in filing a claim even though the Statute of Limitations may not have expired.