Contract Transfer of Title to Real Property Essay

-The Issue: were all the elements of a contract present to make the contract enforceable?

Enforceable contract Peter v. Don. Peter will have an enforceable contract with Don if he can show that all the required elements of a contract are present. If there is a contract between the two then it will be governed by the common law requirements of an enforceable contract instead of the Uniformed Commercial Code, which would be used if their agreement had involved the sale of goods. In order for a contract to be formed between Peter and Don the two must react mutual consent Mutual consent can generally be formed through the form of an (A) offer and (B) acceptance. An additional requirement for both parties to show (C) consideration is also

The defendants wanted to apply reasonable principles in search of specific performance of the contract. The disposition of the immediate motion for partial summary judgment and objection was controlled. “The court found that although the doctrine of mutuality of remedies may be alive and well in Virginia in actions at law for damages, that was not the case where, regardless of a lack of support of remedy at the time the contract was created, complete performance may, if revealed, afford a party specific performance of the contract for the sale of land.”

• Contracts were exchanged on 2 May 2005 for the purchase of property for $2,130,000 between the plaintiffs and the first defendant.

The principle of law is that for a valid contract to be formed there must be an agreement reached by both parties.

The Seller is a corporation duly organized, validly existing and in good standing under the laws of the state of its incorporation as set forth in Schedule 2, with all requisite corporate power and authority to own, operate and lease its properties, and to carry on its business as now being conducted. The Seller is duly qualified to do business and is in good standing in each jurisdiction where the conduct of its business or the ownership of its property requires such qualification. The jurisdictions in which the Seller is qualified to do business are set forth in Schedule 2 hereto.

this case could be an tricky in the court, because in the contract they only

A contract requires four elements to be valid. Essential elements in any contract include the following: agreement, consideration, legal ability, and a legal object (Kubasek, Browne, Herron, Dhooge, & Barkacs, 2016). The agreement includes the offer made to the other party who then agrees to enter into the contract. The consideration includes the exchange each party receives as a result of the contract. The legal ability is capacity one has to enter into a legal contract. The legal object is the legality of the contracted issue. These elements together create an effective, valid contract.

[a] conveyance of real property or an interest in real property or a mortgage or deed of trust is void as to a creditor or to a subsequent purchaser for a valuable consideration without notice unless the instrument has been acknowledged, sworn to, or proved and filed for record as required by law.

A statement that all leases entered into for premises on the parcel of land contain the language identified in paragraph

The following case American Agricultural Chemical Co. v. Kennedy & Crawford, 103 Va. 171 (Va.1904) it is expressed that; where the consideration for the promise of one party is the promise of the other party, there must be absolute mutuality of engagement, so that each party has the right to hold the other to a positive agreement. Both parties must be bound or neither is bound. A party making a promise is bound to nothing until a promisee, within a reasonable time, engages to do, or else do or begins to do, the thing which is the condition of the first promise. Until such engagement or such doing, the promisor may withdraw his promise, because there is no mutuality, and therefore no consideration for it.

In this case, the next week, Pat moved into the house, begins living in it, and made substantial improvements. The improvement consisted of installing new carpets, window coverings, and a patio cover. The improvements, spanning a period of six (6) months, amounted to a cost of $8,000. With respect to a contract, Dan might argue that there was not a contract, or that the contract was outside the Statue of Frauds. However, any arguments to nullify the Statue of Frauds are not likely to be successful. In most instances courts attempt to find evidence that this defense is not supportable. Performance is more relevant in this case. A contract for the sale of real property will be enforceable if the buyer has taken possession and has made permanent improvements upon it. Of course, the extent of the improvements required for enforcement varies from jurisdiction

as a loan. This constitutes the main problem of the contract, since the prosecutors were

for it to qualify as a proper contract in the eyes of the law: offer

In order for a contract to be formed, there are various requirements. These are offer, acceptance, consideration, and the intention to create legal relations. A contract may also be terminated.