Real estate breaches

punitive damages

- punish above and beyond actual injuries.Punitive damages are usually based upon a tort. Punitive damages arise out of tort actions such as fraud, negligent misrepresentation, intentional misrepresentation, or interference with economic relationships.

Negligable

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In order to bring a successful claim for contract interference, the plaintiff must allege and prove all of the following:

1 The existence of a valid contract; 2 Knowledge of the contractual relationship by the defendant; 3 Intentional interference inducing or causing a breach or termination of the contractual relationship; and 4 Resultant damages to the party whose contractual relationship was terminated

What are valid grounds for reformation?

1.Mistake: If the parties were mistaken as to the contract terms, a court may grant reformation. Mutual mistakes will always be grounds for reformation. However, unilateral mistakes lead to reformation only if one party was unaware of the mistake. 2.Misrepresentation: Contract reformation will be granted if one party made a misrepresentation in the contract through fraud or deceit. Reformation will be granted whether the misrepresentation was made innocently or intentionally.

breach of contract

A breach of contract occurs when one or more parties to a contract fail to perform or incorrectly perform a contract duty.

Injunction

A judicial order forcing a person or group to refrain from doing something.

Rescission

A remedy whereby a contract is canceled and the parties are returned to the positions they occupied before the contract was made; may be effected through the mutual consent of the parties, by the parties' conduct, or by court decree.

Liquidated Damages

Agreement between parties as to the amount of damages to be paid by party in breach to the other

Specific Performance

An action to compel performance of an agreement, e.g., sale of land as an alternative to damages or rescission. Can substitution something in leu of if initial agreement cant be fulfilled.

Negligence

An unintentional violation of a legal duty to use a standard of care.

What to do in instance of a breach

Because the difference of whether a contract is breached totally or partially has major implications, and since the distinctions between total and partial breach are a matter of degree, any discussion or determination can only take place by advising the client to seek legal counsel.

tort law

Civil wrong committed against individual or property.

attendant concepts

Concepts related to being an agent, such as fiduciary obligations, are known as attendant concepts. Attendant concepts attach to performance of contract duties.

tort liability

Conditions that would permit the filing of legal charges against a professional for breach of duty &/or behaving in negligent manner.

contract liabilities

Obligations and duties assumed under the contract

Rescind

Revoke, cancel, or repeal (a law, order, or agreement).

Tort Duties

civil wrong, duty of care is imposed in case where there is no relationship between parties, must still have care, diligence, and skill in dealing with each person.

Anticipatory repudiation

is the declaration by a party to a contract that they do not plan to perform the contract, before their performance is required. The party confronted with the anticipated breach does not have to wait for actual breach before seeking a remedy. The usual result is that the injured party will immediately sue for a total breach of contract. The repudiation can be rescinded by the promising party without breach occurring, but only if there has been no change in the performing party's position

tort

is wrongful conduct by one person which causes injury to another. It is a French word meaning wrong. Tort duties are legal liabilities independent of contract standing and apply to the assumption of liability and risk. For these injuries, tort law attempts to right the wrong by awarding money damages to the one who has been wronged. Even in situations where there is a contractual relationship between the licensee and a party to the transaction, as in the case of a broker-buyer agency relationship, tort law and remedies provide an additional basis upon which an aggrieved party may proceed against a licensee.examples; such as fraud, negligent misrepresentation, intentional misrepresentation, or interference with economic relationships

Contract Interference

tort in which a third party interferes with others' freedom to contract.