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Contingencies in a Real Estate Agreement

Contingency clauses in a real estate contract are clauses put in to allow either the buyer or the seller to walk away from the real estate transaction without penalty if a particular event should happ...

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What is a traffic ticket?

A traffic ticket is the general term used to describe an official notice, issued to drivers by law enforcement. This notice is issued because of traffic laws the driver was not obeying. Traffic ticket...

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Types of Warranties

A warranty is a guarantee of the quality and performance of a product. A warranty can be either written or oral and it can be either express or implied....

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What is a unilateral contract?

A unilateral contract is a contract where only one person makes a promise. A unilateral contract is distinguished from a bilateral contract, where there is a mutual exchange of promises (each party to...

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What is a fixed price contract?

A fixed price contract is a contract wherein a specified amount of money is promised in order to pay for the completion of a project or task. Fixed price contracts are commonly used in building/constr...

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What is a bare contract?

A bare contract is a contract that is not legally enforceable because it is missing an essential legal requirement for contracts called consideration. A bare contract essentially refers to a promise t...