Define ‘contract’ and explain the difference between a unilateral contract and a bilateral contract, give examples. 2. What is an express contract? What is an implied contract? Wha
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1. Define ‘contract’ and explain the difference between a unilateral contract and a bilateral contract, give examples.
2. What is an express contract? What is an implied contract? What is Offer and Acceptance? What must be completed after acceptance?
3. What are the 4 classifications or legal effects of contracts? Be specific.
4. Name and define the 5 essential elements of a real estate contract.
5. Name the 4 different types of real estate listing agreements. Which one is preferred by most real estate agents? Why?
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