Elements of a Valid Contract
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Jessica enters into a contract to acquire real property in return for some form of consideration. On the contract, Jessica is regarded as the___
Buyer
Dwight tells his buyer Jamie that a nearby stream could possibly flood the basement, though it's never happened to him. After signing the contract, Jamie's home inspector shows proof that the basement flooded last year, when Dwight was still living in the home. What's true about the situation?
Dwight has committed fraud, which has invalidated Jamie's consent.
A valid contract must include which of the following elements?
Legally competent parties
A real estate contract written for a illegal purpose is___
Void
