Property Law
Land is an example of ______ property.
Real.
What are the three key elements required to form a valid contract?
Offer, acceptance, and consideration.
_____ _____ is a contract breach so significant that it excuses the other party from performing their obligations?
Material Breach.
______ _____ Is the governments power to take private property for public use with compensation.
Eminent Domain.
What type of contract is formed when one party makes a promise in exchange for an action by the other?
Unilateral contract.
The legal remedy where a party is ordered to perform the specific terms of the contract is called what?
Specific Performance.
A type of ownership that involves the right to possess for life.
Life estate.
This is the legal term for an agreement where both parties clearly state their intentions either orally or in writing.
Express contract.
What's it called when a financial remedy intended to put the injured party in the position they would have been in had the breach not occurred?
Compensatory Damages.
_______ refers to an activity or condition that interferes with the use and enjoyment of someone else’s property, such as excessive noise or pollution.
Nuisance.
A ____ contract is a contract that cannot be enforced due to illegality or lack of capacity?
Void.
This clause in a contract excuses parties from performing their obligations when extraordinary events, like natural disasters or wars, occur beyond their control.
Force Majeure.
A type of property right that grants a person or entity permission to use another person's land for a specific purpose is called an _______.
Easement.
This rule in contract law states that an acceptance becomes effective when it is sent, not when it is received, as long as it is sent by an authorized method.
The Mailbox Rule.
This type of remedy is awarded by courts when monetary damages are insufficient, and it includes actions like specific performance or injunctions to ensure fairness.
Equitable Remedy.