Oleg  Belgorodskii

Oleg Belgorodskii

Broker

Sutton Group-Admiral Realty Inc., Brokerage *

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Oleg Belgorodskii's blog

ESSENTIAL ELEMENTS OF A CONTRACT:

There are seven essential elements of a contract. All seven element need to be preset for a contract to be valid.

These Elements are

1. Offer

2. Acceptance

3. Consideration

4. Legal Intent

5. Capacity (or Incapacity)

6. Legal Object (or Legality)

7. Genuine Consent

 

 

Patent Vs Latent Defects in Real-estate deals

 

What do terms Patent and Laten Defects mean?  

Patent is something which is visable and buyer should have no trouble of seing durring reasonable inspection of the property.  There as Latent is not visible and must be disclosed by the seller.

 

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