Voluntary Transfers

Question 1

Right to Dispose

Answer 1

The “right to dispose” imbues property owners with the power to give away property they own, to sell that property, to give it away, to alienate it.

Jones (1968): When Congress passed laws pursuant to the enforcement of the Civil Rights Act that prohibited refusal to sell on the basis of race.

Question 2

Donative transfers?

Answer 2

gift, will, trust

Question 3

residential contract vs. commercial sales contract?

Answer 3

Residential, involves lawyers, form-heavy
Commercial, complex, lawyers involved, non-standards agreements

Question 4

Statute of Frauds

Answer 4

For the sale of land there must be written documentation.

Question 5

you cannot sell property w/o writing?

Answer 5

false

Question 6

In everyday marketable transactions is marketable title presumed?

Answer 6

If there are doubts and uncertainty about marketable defect the buyer is not required to pay or confirm the transaction

Question 7

To back out of sales K due to marketable defect..?

Answer 7

It must be Reasonable.

Question 8

Marketable title acts are the following three things

Answer 8

Marketable acts are (1) a limitation when a buyer can back out. what types of defects indeed rise to marketable defects (2) a state legislative act and (3) pro-transaction.

Question 9

Specific performance

Answer 9

A court order to perform on the contract. Since parties usually just seek damages, this is only sought when the property is unique. eg, school systems
or special waterfront housing.

Question 10

Centex Homes Corp. v. Boag holding

Answer 10

finding specific performance inappropriate when a guy backed out of a lease because there’s no reason why they need this specific person’s rental money.

Question 11

Residential v. Commercial

Answer 11

Residential is contibgent on (1) inspection (2) financing. Is form based.

Commercial is more complex, individual oriented, sophisticated, and requires lawyers