Chapter 5 Mass Real Estate
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| Acceptance | show 🗑
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| Assignment | show 🗑
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| show | A contract, where one party agrees to do something in return, for the second party's promise to also do something (EXAMPLE: Joe will pay Kendra $300 to sing at his party).
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| Bill of Sale | show 🗑
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| Consent | show 🗑
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| show | An individual appointed by the court to act as a guardian.
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| Consideration | show 🗑
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| Consideration | show 🗑
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| show | The one receiving an offer (Offeree) responds by offering a new set of terms, as a new offer. The original Offeree, then becomes the new offeror.
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| show | Written instrument, that transfers ownership of real property from one party to another.
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| show | One of the duties of agency (also known as duty of notice), that requires an agent, to keep his or her principal informed of any matter, that is in the principal’s interest.
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| Equitable Title | show 🗑
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| show | A legal doctrine, whereby a person is not allowed to deny a previous statement or act, when an innocent party has relied on that statement or act. EXAMPLE: Incorrect mortgage balance given by a bank.
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| show | Concept where a party cannot exercise rights contrary, to previous representation.
EXAMPLE: A town water bill relied on by a new owner, could be challenged by estoppel, when a new higher bill is charged.
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| Executed Contract | show 🗑
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| show | The signing and delivery of a document.
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| show | A contract, that has not had the terms completed, by one or both of the parties.
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| show | A contract, where the intent of the parties is clearly stated. May be verbal or written.
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| Implied Contract | show 🗑
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| Laches | show 🗑
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| show | Quality of being within the law. A contract with an illegal element is void.
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| show | Interest obtained by the grantee, when the deed is signed and delivered (compared to equitable title).
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| Listing Agreement | show 🗑
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| Mortgage Deed | show 🗑
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| Mortgage Note | show 🗑
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| Novation | show 🗑
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| show | A promise, by one party to act in a specified manner, providing a second party acts in the manner requested.
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| show | Party receiving an offer, from another party (buyer or seller).
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| show | Party extending an offer, to another party (buyer or seller).
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| Option | show 🗑
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| Power of Attorney | show 🗑
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| Purchase and Sale Agreement | show 🗑
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| Right of First Refusal | show 🗑
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| show | A remedy at law, where the court will force a party, to fulfill his or her part of the contract.
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| show | State law, that requires certain documents to be in writing to be enforceable.
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| show | The time limit within, which legal action must be taken to be enforceable. EXAMPLE: In Mass. the statue limitations on prescription, and Adverse Possession is 20 years.
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| show | One of the legal remedies in the case of a contract default, or nonperformance. Suit to recover compensation, for financial losses suffered due to the contract non-performance.
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| show | A contract, where one party makes a promise to perform without a second party promised to perform. EXAMPLE: Reward for a lost property.
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| show | Having legal, binding force.
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| show | Having no binding legal force.
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| show | Having binding force, but able to be broken by one of the parties.
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| show | The state of having legal contractual capacity.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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