Final

Question 1

Negligent misrepresentation

Answer 1

1.false statement of material fact 2. Carelessness or negligence in ascertaining the truth of the statement by the party making it 3. An intention to include the other party to act 4. Action by the other party in reliance on the truth of the statement 5. Damage to the other party resulting from such reliance when the party making the statement is under a duty to communicate accurate information

Question 2

Confidential relationship

Answer 2

Arises when a parent is elderly, between one who is afflicted and weak between one who is younger and stronger provides car, help or assistance

Question 3

Capacity

Answer 3

Grantor must be 18 and of sound mind. To be of sound mind the grantor must just understand 3 things: the legal significance of a deed, to whom they are conveying the property, and the nature and value of the property they are conveying

Question 4

Undue influence

Answer 4

When the stronger party uses the trust gained in the confidential relationship to obtain property or funds

Question 5

Adverse possession

Answer 5

Allows owners to prove title through possession for a certain period of time.
Requirements: actual and exclusive possession, open, visible and notorious, continuous and peaceable, hostile and adverse and possession for required statutory period.

Question 6

Contract

Answer 6

Offer, acceptance,consideration

Question 7

Offer

Answer 7

Generally made by the buyer, must show a present intent to contract, terms must be contain and definite and it must be communicated to the offered, communication to the offered.

Question 8

Eminent domain

Answer 8

Just compensation/ determine- more money from government if fixture included, person who property is being taken government tax accession evaluating whether you have added a fixture or not.

Question 9

Title:

Answer 9

Ownership

Question 10

Marketable title:

Answer 10

Free or lawsuit( except to relieve when you pursuance property)
Promises by a deed grantor specifying the condition of title being conveyed
1. General warranties- best broadest
2. Special warranty or grant
3. Quit claim
-I have good title, nothing to run, pass on property to you
- not promising that they have ownership, junk did do anything to messing up
- no promises at all

Question 11

Arms length transaction

Answer 11

Selling property use- strategically dictates based on jurisdiction which deed to use
CA grand deed state

Question 12

Title insurance cares

Answer 12

Insurance that you owe the property cares about the deed and promises in deeds

Question 13

Adverse possession

Answer 13

COAH 
Continuous
Open and notorious 
Actual and exclusive
Hostile- without permission

Question 14

Taking

Answer 14

Privety through family or contract

Question 15

To be a valid offer:

Answer 15

1. Present intent( outward manifestation)
2. Certain and definite terms
3. Must be communicated

Question 16

Multiple offers

Answer 16

Commercials- no offer

Communication- outward manifestation- contractually bound

Question 17

Option contract

Answer 17

1. Underlying offer
2. Ancillary promise
3. consideration

Question 18

Reject offer

Answer 18

Counter-offer: lapsing time, no straight forward rejection, add any terms, counter offer- kill the offer then start a new one “is this your best offer”?

Question 19

Mirror image rule

Answer 19

Acceptance must mirror and except the terms of the offer, communicate it to the offered, consideration: bargained for exchange, quid pro quo

Question 20

Statue of frauds

Answer 20

Must be in writing if it is over a year,

Question 21

Doctrine of Part performance

Answer 21

Made the place valuable, part/full payment, possession, substantially improve to the person, need 2 of the 3.

Question 22

Letter of intent

Answer 22

Interest in the property, defined In the contract,the formal contract will follow. Not an offer- invitation for an offer, missing definite and certain terms and the acceptance did not mirror counter offer or contract

Question 23

Before writing a contract?

Answer 23

Need LOI