Check Your Understanding Answers
- Define breach of contract.
A breach of contract is a failure to perform according to the terms of the agreement. Also called default, a breach of contract gives the damaged party the right to take legal action.
- What is the Statute of Limitations to sue for breach of contract in California?
Four years from the time the breach occurred
- What is a tort?
Tort is a civil wrong or wrongful act, whether intentional or accidental, that the law recognizes as grounds for a lawsuit.
- List five common tort claims made against real estate licenses. (Additional answers on page 60.)
- Fraud
- Breach of Duty
- Breach of Contract
- Negligence
- Bodily Injury / Property Damage
