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2. Rescission (contract law) - Wikipedia

   en.wikipedia.org/wiki/Rescission_(contract_law)

   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.

3. Option fee - Wikipedia

   en.wikipedia.org/wiki/Option_fee

   The residential real estate industry in Texas is unique in that the real estate sales contract forms used in most transactions in the state are developed through a state agency, the Texas Real Estate Commission (TREC). TREC's Broker-Lawyer Committee develops standard contract forms and addenda which are promulgated by the Commission.

4. United States contract law - Wikipedia

   en.wikipedia.org/wiki/United_States_contract_law

   The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law. The law governing transactions involving the sale of goods has become highly standardized nationwide through widespread adoption of the Uniform Commercial Code .

5. Can a seller back out of a real estate contract? - AOL

   www.aol.com/finance/seller-back-real-estate...

   If they are unable to find a property, they can cancel the sale of their current home per the contract. Taking advantage of attorney review: Many contracts include an attorney review period.

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7. Drop dead date - Wikipedia

   en.wikipedia.org/wiki/Drop_dead_date

   In trade and contract law, a drop dead date is a provision added to a legal or trade act, such as a contract or a court order. [1] Such a provision sets a last-delay date (hence the name drop dead date) past which certain consequences will automatically follow, such as cancelling the contract, charging a late fee, or entering a judgment.

8. Real estate contract - Wikipedia

   en.wikipedia.org/wiki/Real_estate_contract

   Contingencies that cancel the contract if certain event occur are known as "resolutive conditions". Most contracts of sale contain contingencies of some kind or another, because few people can afford to enter into a real estate purchase without them. But it is possible for a real estate contract not to have any contingencies.

9. AOL Mail is free and helps keep you safe.

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   Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!