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The Sales Contract

Contracts Chapter 6
Horizontales
The main imaginary line running north and south and crossing a base line at a definite point
A map of a town, section, or subdivision indicating the location and boundaries of individual properties
Township lines that form strips of land and are designated by consecutive numbers north or south of the base line
The illegal act by a real estate broker of placing client or customer funds with personal funds
Section 17 of a township square
A strip of land six miles wide, extending north and south and numbered east and west according to its distance from the principal meridian in teh rectangular survey system of legal description
An amount predetermined by the parties to a contract as the the total compensation to an injured party should the other party breach teh contract
A portion of a township under the rectangular survey system
A map of a subdivision indicating the location and boundaries of individual properties
A fixed nuetral or artificial object used to establish real estate boundaries for a metes-and-bounds description
The process by which boundaries are measured and land areas are determined
A sales contrac that is accepted, signed, and dated buy the seller, and notice of acceptance has been given to the buyer or buyer's agent
A method of describing real property that identifies a parcel of land by reference to lot and block numbers within a subdivision, as specified on a recorded subdivision plat
All the lines in a rectangular survey system that runs east and west, parallel ot the base line and six miles apart
Verticales
The lender has taken information from the borrower who pays off the loan principal early
Relevant infromation or facts that are known or should have been known
The main imaginary line running east and west and crossing a principal meridian at a definite point; used by surveyors for reference in locating an describing land under the rectangular survey system fo legal description
The principal unit of the rectangular survey system
An expression of intent to be bound by the terms and conditions fo an an offer
A description of specific parcel of real estate complete enough for an independent surveyor to locate and identify it
A method used to describe a parcel of land that begins at a well-marked point and follows the property's boundaries, using directions and distances around the tract, back to the place of beginning
A new offer made in response to an offer received
In a metes and bounds legal description, the starting point or the survey, situtated in one corner of the parcel