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Real Estate Contracts

Chapter 9
Horizontales
The remedy for a voidable contract is __, which restores the parties as if the contract never took place.
__ performance - the defaulting party is forced to perform according to the contract and close on the sale.
__ is a term that means the contracts have been adopted for use by all licensees in the sale of real estate.
In a/an __ contract, two parties each agree to exchange one thing for another.
Contracts that are not performed within a statutory period can be __.
If a buyer is in default, then the seller can choose to keep the earnest money as __ damages and terminate the contract.
A/An __ contract is an enforceable contract that is in the process of being performed over a period of time.
In its simplest form, a/an __ can be defined as “a deliberate or voluntary agreement between competent parties, made on a sufficient legal consideration, to do or not to do a particular act or thing.”
A/An __ contract is one in which all of the terms of the agreement have been stated and agreed to by all parties. It can be created either verbally or in writing.
If an agreement is __, then it never was a contract.
Verticales
A/An __ contract is an unstated or unintentional agreement that may be deemed to exist when the actions of any of the parties suggest the existence of an agreement.
The person who makes the offer is called the __.
__ can be in the form of a promise for a promise.
In a/an __ contract, one party makes a promise and the other party benefits based on performance.
__ of contract occurs when one of the parties fails to perform according to the terms of the contract.
__ are forms that are part of the original contract.
The Texas Real Estate Commission has __ promulgated contract forms. (how many)