Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

real estate

General Knowledge of contract law

Contract A voluntary agreement between informed and capable parties to do, or to refrain from doing, something which is legal; to do or agree not to do and which is supported by adequate consideration
Five elements of a contract COLIC C- Competitive Parties O- Offer and Acceptance L- Legal; Legality of Objects I- Informed Parties C-Consideration
Competitive Parties All parties must be alive, of lawful age, and sound mind and mentally competent
Offer and Acceptance Sometimes referred to as mutual assent, this element shows there is a meeting of the minds that an offer was made and acceptance of that offer was reached
Legal; legality of object The purpose underlying the contract
Consideration may be money, anything of value, or just a statement that consideration exists, such as " for continued love and affection" or for good and valuable consideration.
Contracts in real estate two additional elements 1.) In writing and Signed 2.) Description of the Real Estate
In writing and signed real estate contracts, and -Personal property contracts in excess of $500 -require a written contract to be enforceable in court -this is known as the statue of frauds requirement
Description of the real estate re documents which will be recorded in the public, records, will require a legal descriip. mortgages, deeds of trust deeds, etc, non-recorded doc are usually acceptable with a st address or assessor's parcel number (APN),contracts, addendums, leases, disc
Created by: jasmineawest
Popular Real Estate sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards