Module 11

Module 11 contains an explanation of real estate contracts. Items covered include the effects of the statute of frauds and the statute of limitations, the essentials of a contract, types of contracts, the various ways an offer and a contract is terminated, breach of contract, the various types of listings, required disclosures, and the different types of leases.

When you finish reading this module you will be able to:

  1. Define the term contract.
  2. Describe the effects of the statute of frauds and the statute of limitations.
  3. List and describe the essentials of a contract.
  4. Distinguish among formal, parol, bilateral, unilateral, implied, expressed, executory, and executed contracts.
  5. List the various ways in which an offer is terminated.
  6. List the various ways in which a contract is terminated.
  7. Explain the remedies for breach of a contract.
  8. Describe the elements of a contract for deed and an option contract.
  9. Differentiate among the various types of listings.
  10. List the events that will terminate an agency contract.
  11. Describe the various disclosures required in a real estate contract.
  12. Describe the different types of leases.

 

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