With the aid of relevant examples write short notes on any 5 remedies available for breach of contract.
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With the aid of relevant examples write short notes on any 5 remedies available for
breach of contract.
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- 1. A contract to sell real estate is generally not enforceable unless it is in writing. a) True b) FalseThe following situations generally require a contract to be in writing: • sales of land • purchases of goods over $500 • promises made in consideration of marriage ⚫ contracts that cannot be completed in less than one year • a contract in which one person promises to pay the debt of another person This legal concept is known as offer and acceptance promissory estoppel the statute of frauds et lux perpetua luceat eisThe listing agreement compensates the firm and agent that bring the property to market as well as the firm and agent that brings the buyer. How does the choice to decline a buyers agent effect the cost to the seller? Explain how a seller-sub agent bringing a buyer differs for the buyer from choosing a buyers agent to represent you as a buyer. The sellers sub-agent has a fiduciary responsibility to what party? Why is the idea "I don't want to pay an agent to work in my interest as the buyer" is flawed in it's logic and understanding of the structure of the listing agreement.
- A. Does a contract have to be in writing? B. List three types of terms in a contract. C. Distinguish terms in a contract from a representation.Discuss the relevance and importance of a contractual relationship. Identify the various types of contracts that are required to be in writing.after a salesperson inspected a property and completed a brokerage engagement, the seller examined and signed that contract. And Georgia, if the salesperson sponsoring broker had mentioned in the salesperson written affiliation agreement that the salesperson could sign a listing agreement as the agent, because this person legally have done so? Yes, because the seller had already examined and signed the contract Yes, because the salesperson was the agent of the broker No, unless the salesperson had completed all the education courses required of a broker No, because a sponsoring broker was the sellers agent