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9780130811332

Texas Real Estate Contracts

by ;
  • ISBN13:

    9780130811332

  • ISBN10:

    0130811335

  • Edition: 1st
  • Format: Paperback
  • Copyright: 1999-09-01
  • Publisher: PRENTICE HALL SCHOOL GROUP
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Summary

This text integrates the theory of contract law and its impact on the real estate transaction with practical instruction on Texas real estate employment and sales contracts. Written by an attorney and a real estate broker, you'll find it offers a fully blended view of real estate contracts from two active participants in their respective fields. All required course elements specified by the Texas Real Estate Commission are included along with current real estate contracts and addenda.

Table of Contents

Preface xiii
Introduction
2(12)
Key Terms
2(1)
What Is a Contract? An Overview
3(1)
Purpose of a Contract
4(1)
Classification of Contracts
4(6)
Express Contract
5(1)
Implied Contract
5(1)
Unilateral Contract
6(1)
Bilateral Contract
6(1)
Valid Contract
7(1)
Void Contract
7(1)
Voidable Contract
7(1)
Executed Contract
8(1)
Executory Contract
8(2)
Sources of Contract Law
10(4)
Constitutional Law
10(1)
Statutory Law
10(1)
Agency Rules and Regulations
11(1)
Case Law
12(2)
The Offer
14(12)
Key Terms
14(1)
In General
15(1)
Communication of the Offer
15(1)
Requirements and Manner of an Offer
16(1)
Presentation of an Offer
16(1)
Distinguished from Non-Offers
17(1)
Expression of Intention
17(1)
Invitations to Offer Distinguished from Inquiries
18(1)
Multiple Offers
18(1)
Backup Offers and Contracts
19(1)
Termination of the Offer
19(7)
Revocation by the Offeror
19(1)
Rejection by the Offeree
20(3)
Destruction of the Subject Matter
23(1)
Death or Insanity of the Offeror
23(1)
Illegality of the Subject Matter
24(2)
The Acceptance
26(6)
Key Terms
26(1)
In General
27(1)
Who May Accept the Offer
27(3)
Written versus Verbal Acceptance
28(2)
Silence
30(1)
Precontractual Liability
30(2)
Liability for Failed Negotiations
30(1)
Restitution
30(1)
Promissory Estoppel
31(1)
Good Faith
31(1)
Consideration
32(8)
Key Terms
32(1)
In General
33(1)
Types of Consideration
33(2)
Promise as Consideration in Bilateral Contracts
33(1)
Performance as Consideration in Unilateral Contracts
34(1)
Money as Consideration
34(1)
Physical Exchange of Real Estate
35(1)
Types of Nonconsideration
35(3)
Gratuitous Consideration
35(1)
Past Consideration
36(1)
Preexisting Legal duty
36(1)
Additional Consideration
36(1)
Voidable Contracts
37(1)
Alternatives to Consideration
38(2)
Promissory Estoppel
38(2)
Capacity of the Parties
40(8)
Key Terms
40(1)
In General
41(1)
Minors
41(2)
Necessaries
41(1)
Misrepresentation
42(1)
Mentally Incapacitated Parties
43(1)
Guardianships and Durable Powers of Attorney
44(4)
Guardianships
44(1)
Powers of Attorney
44(4)
Legality of the Contract
48(10)
Key Terms
48(1)
In General
49(1)
Contravention of Public Policy
49(1)
Contravention of Constitution, Statute, Ordinance
50(1)
Unlawful Intent of the Parties
50(1)
Contracts Involving Fraud or Deception of Third Parties
50(8)
Common Law Fraud
51(1)
Texas Real Estate Fraud
51(1)
Texas Deceptive Trade Practice-Consumer Protection Act
52(6)
The Statute of Frauds and Other Writing Requirements
58(8)
Key Terms
58(1)
The Statute of Frauds in General
59(4)
Contracts for the Sale of Goods
59(3)
Application to Contracts for the Sale of Land or Interests in Land
62(1)
Covenants Not to Be Performed Within One Year
62(1)
The Contents of the Statute of Frauds Memorandum
63(1)
Property Descriptions
63(1)
Metes and Bounds
63(1)
Lot and Block
63(1)
Condominium
64(1)
Part Performance Exception
64(1)
Other Writing Requirements
64(2)
Commission Agreements
64(1)
Independent Contractor Agreements
65(1)
Assignment and Delegation
66(6)
Key Terms
66(1)
In General
67(1)
Assignment
67(1)
Requirements for a Valid Assignment
68(1)
Present Transfer
68(1)
Writing
68(1)
Rights and Liabilities of the Parties after an Assignment
68(1)
Relationship between the Assignee and the Obligor
68(1)
Relationship between the Assignor and the Obligor
69(1)
Delegation
69(3)
Relationships between the Parties
70(2)
Reformation or Avoidance
72(6)
Key Terms
72(1)
Amendment, in General
73(1)
Construction of Contracts
73(3)
Parol Evidence Rule
73(3)
Termination, in General
76(2)
Discharge of Contract
78(10)
Key Terms
78(1)
In General
79(1)
Discharge by Performance
79(1)
Discharge by Lapse of Time
79(1)
Discharge by Modification
80(1)
Discharge by Breach
81(1)
Discharge by Condition
81(1)
In General
81(1)
Discharge by Impossibility or Frustration of Purpose
82(1)
Impossibility of Performance
82(1)
Death or Insanity of a Party to the Contract
82(1)
Frustration of Purpose
83(1)
Discharge by Agreement of the Parties
83(5)
Mutual Rescission
83(1)
Substitution and Novation
84(2)
Accord and Satisfaction
86(2)
Breach of Contract
88(8)
Key Terms
88(1)
In General
89(2)
Federal Jurisdiction
90(1)
Texas Jurisdiction
90(1)
General Breach
91(1)
Anticipatory Repudiation
92(1)
Remedies for Breach of Contract
92(4)
Damages
92(1)
Specific Performance
93(1)
Rescission
94(1)
Liquidated damages
94(2)
Basic Real Estate Law For Contracts
96(8)
Key Terms
96(1)
Community Property and Informal Marriages
97(1)
In General
97(1)
Inception of Title Doctrine
97(1)
Informal Marriages
98(1)
Homestead Law
98(2)
In General
98(1)
The Homestead Exemption
98(1)
Term of Homestead
99(1)
Extent of Exemption
99(1)
Conveyancing the Homestead
99(1)
Co-Ownership
100(1)
Tenancy in Common
100(1)
Joint Tenancy
100(1)
Basic Wills and Estates
101(3)
Real Estate Employment Contracts
104(32)
Key Terms
104(1)
In General
105(1)
Independent Contractor Agreements
105(2)
Listing Agreement
107(18)
Creation of the Agency Relationship
107(1)
Types of Listing Agreements
107(1)
Required Elements
108(1)
Completion of a Standard Listing Agreement
108(17)
Buyer Representation Agreement
125(6)
Completion of the Standard Buyer Representation Agreement
125(6)
Agency Disclosure
131(2)
Requirements
131(1)
Exceptions
132(1)
Tortious Interference with Contract
133(1)
Termination of Real Estate Employment Agreements
133(3)
Specific Real Estate Forms
136(36)
Key Terms
136(1)
In General
137(1)
Texas Real Estate Commission
137(1)
Rules for Use of Promulgated Forms
137(1)
Generally
137(1)
Exceptions
138(1)
Practice of Law
139(3)
Unauthorized Practice of Law
139(1)
Authorized Practices
140(2)
Mandatory Forms
142(30)
Promulgated Residential Sales Contracts
142(1)
Promulgated Addenda
142(25)
Other Mandatory Forms
167(5)
Standard Residential Sales Contract Provisions
172(40)
Key Terms
172(1)
Parties
173(9)
Property
182(1)
Sales Price
183(1)
Financing
183(6)
All Cash
183(1)
Third-Party Conventional
183(1)
Seller Financing
184(1)
Assumption
184(2)
Federal Housing Administration (FHA) Insured Financing
186(1)
Veterans Administration (VA) Guaranteed Loan
187(1)
Creative Financing Techniques
187(2)
Earnest Money
189(1)
Title Policy and Survey
190(3)
Objections to Title Policy and Survey
191(1)
Notice to Buyer and Seller
192(1)
Property Condition
193(4)
Brokers' Fees
197(1)
Closing
197(1)
Possession
198(1)
Special Provisions
198(3)
Casualty Loss
201(1)
Default
202(1)
Dispute Resolution
202(1)
Attorney's Fees
202(1)
Escrow
203(1)
Representations
204(1)
Federal Tax Requirement
204(1)
Agreement of the Parties
204(1)
Consult Your Attorney
205(1)
Notices
205(7)
Closing and Post-Closing Issues
212(19)
Key Terms
212(1)
Closing Issues
213(11)
Deeds
213(6)
Mortgages
219(5)
Post-Closing Issues
224(7)
Methods of Title Assurance
224(3)
Recording in Texas
227(4)
Appendix I Texas Real Estate Commission Promulgated Real Estate Sales Contracts 231(63)
Appendix II Sample Completed Forms 294(22)
Appendix III Texas Real Estate Commission Promulgated Real Estate Sales Addenda 316(19)
Index 335

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