Search results
Results from the WOW.Com Content Network
Other examples would be real estate contracts, lawyer contracts, etc. When a contract is entered into without the free consent of the party, it is considered a voidable contract. The definition of the act states that a voidable contract is enforceable by law at the option of one or more parties but not at option of the other parties.
Rescission at common law (as distinct from rescission in equity) is a self-help remedy: historically, the common law courts simply gave effect to the rescinding party's unequivocal election to rescind the contract. Rescission at common law is only available for fraudulent misrepresentations and duress.
The language of real estate contracts is typically written to protect buyers. And in many cases, a home seller who reneges on a purchase contract can be sued for breach of contract.
A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
Revocation of legal rights, privileges, or license can occur either administratively or through criminal courts. A common example is the revocation of a driver's license for egregious or repeated violations of traffic laws , which can be done by a criminal court, or an administrative traffic court, depending on jurisdiction. [ 4 ]
If the claimant chooses to rescind, the contract will still be deemed to have been valid up to the time it was avoided, so any transactions with a third party remains valid, and the third party will retain good title. [76] Rescission can be effected either by informing the representor or by requesting an order from the court.
Taxes can be confusing. But it's important to understand how real estate and property taxes work, especially if you own land, a home or a vehicle. While many people use the terms interchangeably ...
An agreement to carry out an illegal act is an example of a void agreement. For example, an agreement between drug dealers and buyers is a void agreement simply because the terms of the contract are illegal. In such a case, neither party can go to court to enforce the contract.