Chapter 15: Land Sale Contracts

Question 1

FILL IN THE BLANKS. The two main exceptions to the application of the Statute of Frauds to a land sale contract are __________ and __________.

Answer 1

detrimental reliance, part performance

Question 2

Which of the following would NOT constitute an encumbrance that would prevent a seller from delivering marketable title to a buyer?
a. easement
b. mortgage
c. zoning violation
d. title acquired by adverse possession that has been quieted

Answer 2

d. title acquired by adverse possession that has been quieted

Question 3

True or False?
The seller must provide the buyer with a title that is free from any risk of litigation.

Answer 3

False. Not “any” risk of litigiation, “unreasonable” risk of litigation

Question 4

True or False?
The seller must cure the defective title before closing.

Answer 4

True

Question 5

Which of the following statements regarding the duty to disclose defects is FALSE?
a. A general “as is” disclaimer will satisfy the seller’s duty to disclose defects.
b. A seller has a duty to disclose material defects if they substantially affect the value of the home.
c. The disclosure must regard latent or hidden defects.
d. The seller must disclose all known physical and material defects.

Answer 5

a. A general “as is” disclaimer will satisfy the seller’s duty to disclose defects.