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Law of Contracts - Unit 6

A/an __ is better than a prequalification letter.
If an offer is rejected, the earnest money check is __ to the buyer.
A real estate sales contract contains the complete agreement between the __ and seller.
The term of the new loan is required on a contract with __ party financing.
A/an __ address is NOT a valid legal description.
An offer to purchase by a potential buyer is considered accepted when the buyer is __ that the seller has accepted the offer.
__ are fixed objects used to identify the point of beginning (POB)
A/an __ for real estate for six months does not need to be in writing.
If a seller counters a buyer's offer, the first offer is no longer an offer, it __ upon the signature of the seller on the counteroffer.
Once presented an offer from a prospective buyer, the seller can accept it, reject it or make a/an __.
An offer should be presented to the seller __.
An offer or counteroffer may be withdrawn at any time before it has been __.
Once the offer has been accepted, each of the parties are to receive a copy of the final signed __.
During the period of time between contract ratification and closing, the buyer has a/an __ (future) interest.
If the earnest money is established as the limit of the buyer's liability in case of default, this sum of money is called __ damages.
A violation of any of the terms and conditions agreed upon in a sales contract is called a/an __ of contract.
Any __ by the seller to the terms proposed by the buyer creates a counteroffer.
A contract for the sale of real property must be in __ to be enforceable.
__ is generally synonymous with breach.
A court forces the other party to go through with the sale as previously agreed is __ performance.
When describing real estate, the system that uses a property's physical features to determine boundaries and measurements is __ and bounds.
The sales contract says the buyer will purchase only if an attorney approves the sale by the following Monday. The attorney's approval is a/an __.