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A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
Underground lake within Cross Cave in Slovenia, one of 22 such lakes. An underground lake or subterranean lake is a lake underneath the surface of the Earth. Most naturally occurring underground lakes are found in areas of karst topography, [1] [2] where limestone or other soluble rock has been weathered away, leaving a cave where water can flow and accumulate.
Devils Well is a sinkhole cave near Akers in the U.S. state of Missouri, containing an underground lake that is the largest in the state. [1] It is a part of the Ozark National Scenic Riverways and can be viewed by the public any day during daylight hours. The U.S. Park Service has set up a metal staircase and a switch-activated light; however ...
First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
On the outside, this estate that sits on 10 acres in Polo, Missouri, might look like a tiny house with a massive price tag — a $2 million one, to be exact. But looks can be deceiving, because ...
SJ Burton and MA Eisenberg, Contract Law: Selected Source Materials Annotated (2011) RE Barnett, The Oxford Introductions to U.S. Law: Contracts (2010). MA Chirelstein, Concepts and Case Analysis in the Law of Contracts (6th edn 2010) EA Farnsworth, Contracts (2008) LL Fuller, MA Eisenberg and MP Gergen Basic Contract Law (9th edn 2013)
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
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