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URL:https://www.learndesk.us/class/6697955492888576/lesson/77d67867122aa70bdae84b8103b3661e?ref=outlook-calendar
SUMMARY:Contract Mechanics adnd Processes
DTSTART;TZID=America/Los_Angeles:20260515T190000
DTEND;TZID=America/Los_Angeles:20260515T200000
LOCATION:https://www.learndesk.us/class/6697955492888576/lesson/77d67867122aa70bdae84b8103b3661e?ref=outlook-calendar
DESCRIPTION: Offer and acceptance. A contract of sale is created by the full and unequivocal acceptance of an offer. Offer and acceptance may come from either buyer or seller. The offeree must accept the offer without making any changes whatsoever. A change terminates the offer and creates a new offer or counteroffer. An offeror may revoke an offer for any reason prior to communication of acceptance by the offeree.
Equitable title. A sale contract gives the buyer an interest in the property that is called equitable title, or ownership in equity. If the seller defaults and the buyer can show good faith performance, the buyer can sue for specific performance, that is, to compel the seller to transfer legal title upon payment of the contract price.
Earnest money and escrow. The buyer's earnest money deposit fulfills the consideration requirements for a valid sale contract. In addition, it provides potential compensation for damages to the seller if the buyer fails to perform. The amount of the...

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