Question

The successful conveyance of real estate depends on a well-formed contract for sale since the contract dictates the rights and type of deed involved, as well as choreographs the entire transaction. Which of the following features of the contract for sale refers to the arrangements agreed to by the parties, such as price and date of closing?
A. Contract terms
B. Contract conditions
C. Equitable title
D. Contingency clause

Answer 1

Answer:

A. Contract Terms

Explanation:

Contract terms also known as terms of a contract or contractual terms represent provisions or specifically outlined terms in a contract that give rise to a contractual obligation. In other words, contract terms are the specifics of a contract that makes the contract legally binding and the breach of which can lead to litigation of one party by the other.

Contracts terms specify the rights and the obligations of parties in a contract.

Some of the features of a standard contract include; payment terms, issue on confidentiality, attorney fees, date of closing, liquidated damages among otherss.